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BBK, Sico mandated for BD10 million bond issue - Bahrain  Join our daily free Newsletter

MENAFN - Bahrain Tribune - 04/05/2006

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Bahrain Commercial Facilities Co. (BCFC), the largest consumer finance company in Bahrain with significant interest through wholly owned subsidiaries in automobile distribution, real estate marketing and sales and insurance brokerage, has mandated BBK and Securities and Investment Co. (Sico) to underwrite and manage a five-year BD10 million bond issue.

BBK will also act as Agent Bank and Receiving and Paying Bank. The issue is expected to open at selected BBK branches for subscription in June 2006 upon completion of all regulatory requirements. BCFC has signed formal agreements with BBK and Sico at the BBK's headquarters yesterday.
Each bond will have a face value of BD100. All Bahraini residents (nationals and expatriates) and all GCC nationals are eligible to subscribe to the bonds. The bonds are attractively priced at 0.95% over six months BIBOR with a minimum coupon of 3%. Interest on the bonds will be paid at six monthly intervals.
The bonds will be listed and traded in the Bahrain Stock Exchange.

 






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