Ministry of Finance, Trade, Investment and Economic Planning issues new bonds
March 27, 2019
Wednesday 27th March 2019, VICTORIA, SEYCHELLES: The Ministry of Finance, Trade, Investment and Economic Planning (MFTIEP) has announced the issuance of three new bonds.
The bonds - one for the Government of Seychelles and two for the Development Bank of Seychelles (DBS) will be administered by the Central Bank of Seychelles (CBS).
The two DBS Bonds, each worth SCR 50 million, will be issued in April 2019. One is for a three-year period and the second is for five years. The three-year bond will bring an interest rate of 6% per annum, while the five-year bond will bring an interest rate of 6.5% per annum. Payment of interest will be done quarterly. The DBS Bonds will be guaranteed by the Government of Seychelles.
The Government Bond amounting to SCR 200 million will be issued in July 2019. The bond, which will be for monetary policy purposes is for a period of seven years, bringing an interest rate of 7% per annum. Interest will be paid half-yearly.
All bonds will be issued in multiples of SCR 5,000 with a minimum value of SCR 5,000.
A bond is a form of Government security, issued to raise money from investors willing to lend money for a certain amount of time to manage liquidity levels in the economy.
The new bonds being issued are therefore aimed at attracting new investments and encourage savings among interested adult individuals, commercial banks, companies, institutions, clubs, societies and other organisations.
Public & Media Consultant
Ministry of Finance, Trade, Investment and Economic Planning
P. O. Box 313, Liberty House, Victoria, Republic of Seychelles
Tel: + (248) 4382 130 | Mobile: + (248) 2822168 | Fax: + (248) 4325 161
“We promote transparency, accountability and good governance.”