Th application window for 3 new Treasury Bonds is opened as of today
May 16, 2022
The Government, through the Ministry of Finance, National Planning and Trade (MoFNPT) is issuing three Treasury Bonds for fiscal purposes as per its Q2 Issuance Plan. The 3-year, 5-year and 7-year Bonds will be worth a total of SCR 500 million.
All three Bonds will be available on auction basis, the allocation of which will take place on Monday 23rd May 2022. The application window for the auction will open one week prior to the allocation date, on Monday 16th May 2022 and will close at 8.30 am on the auction day.
The 3-year, 5-year and 7-year Treasury Bonds will be earning a fixed interest rate of 2.70%, 4.30% and 5.90% per annum, respectively. Interest payments for the Bonds will be done half-yearly, on March 15 and September 15 and calculated on a 365-day year. The first payment of interest for all three bonds will be on September 15, 2022.
All three Bonds will be issued in multiples of SCR 1,000 with a minimum value of SCR 1,000.
The auction will be both on a competitive and non-competitive basis, with the former available to depository institutions, the Seychelles Pension Fund and insurance companies. The non-competitive auction will be available to all other eligible investors. The issuance of the Bonds is applicable to both residents and non-residents having a Seychelles Rupee account with a local financial institution, in all cases.
The issuance and management of the Bonds will be undertaken by the Central Bank of Seychelles (CBS). The prospectuses will be published in the Seychelles Nation and TODAY in Seychelles on Saturday 14th May, Monday 16th May and Wednesday 18th May, 2022. Copies of the prospectuses and application forms can also be downloaded from the CBS website: https://www.cbs.sc/GovernmentDebt/Bonds/applicationforms.html
The Bonds are being issued as part of the Government’s strategy to increase the frequency of Bond issuances.