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Government of Bahrain Managed to Borrow BD 185 Million

2018-08-02 - 6:37 p

Bahrain Mirror: Central Bank of Bahrain (CBB) said it managed to borrow 185 million on behalf of the Government of Bahrain. The bank said that the Government Development Bonds issued by the CBB on behalf of the Government of the Kingdom of Bahrain were covered.

The issue is worth BD 150 million for 3 years. The expected interest rate on the issue, which begins on 5th August 2018 and matures on 5th August 2021, is 6.55%, noting that the issue of the 3 Year Government Development Bond has been fully subscribed by 100%.

It added that the monthly issue of Government Treasury Bills issued by the CBB, on behalf of the Kingdom of Bahrain, has been subscribed by 100%. This issue, carrying a maturity of 182 days, from 5th August 2018 until 3rd February 2019, reaches BD 35 million. The weighted average rate of interest of the bills 4.19%.

Bahrain had to raise the interest ceiling on its debts amid increase of indebtedness and low credit rating to guarantee the coverage of issues.

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