Full subscription of 1770 Bond |03 August 2019

The 1770 Bond issued on Wednesday July 31, 2019 has been fully subscribed.

In a press communiqué, the Central Bank of Seychelles (CBS) writes that the bond issued by the Ministry of Finance, Trade, Investment and Economic Planning on behalf of the government is for monetary policy purposes.

CBS, which is administering the 7 per cent seven-year 1770 Bond, has also confirmed that the limit of issue in terms of applications has been reached.

There are 102 successful applications of which 96 are from individuals, four from banks and two from financial corporations.

The bond, issued in multiples of R1,000 with a minimum value of R1,000, was worth R200 million.

CBS awaits the completion of the payment period of three days, as prescribed by its processes, before formally closing the tap on the bond issuance and as such, no new applications are being accepted. However, should any of the successful applicants fail to settle payment in the prescribed timeframe, the amount will be made available on a first-come-first-served basis.