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Bahrain Stock Exchange(BSE)and Bahrain Commercial Facilities(BCFC)yesterday signed an agreement to list BD10 million bonds issued by BCFC on the BSE. ...  Join our daily free Newsletter

MENAFN - Bahrain Tribune - 07/07/2005

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Bahrain Stock Exchange (BSE) and Bahrain Commercial Facilities (BCFC) yesterday signed an agreement to list BD10 million bonds issued by BCFC on the BSE.

With the listing of this issue, the number of bonds and Islamic sukuk listed on exchange comes to 20 with an approximate total value of 2.8 billion.
Both Fouad Rashid, BSE director, and Mohammed Al Jaber, BCFC general manager, signed the agreement. The five-year maturity issue holds an interest rate of 0.85 per cent above BIBOR, subject to a minimum of 2.50 per cent per annum, payable to the bond holder every six months. The subscription on this issue was closed last June 9.

The BCFC general manager extended his gratitude to officials at Bahrain Monetary Agency and BSE for their co-operation during different phases of approving and listing the issue. He also said that the company would continue benefiting from the stock exchange and opportunities available in it to the advantage of the company and also to the capital market in Bahrain.
Rashid said listing BCFC bonds on BSE reflects the importance of the bond market as a major financing tool that companies should consider utilising with the liquidity available in the market by issuing debt instruments to finance expansion projects. He also added that listing these instruments would expand investment options for investors in the market.

 






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