Three Treasury Bonds with very attractive interest rates will be issued on 28th January 2021
January 28, 2021
The Government, through the Ministry of Finance, Economic Planning and Trade (MoFEPT) is issuing three Treasury Bonds for fiscal purposes.
The 3-year, 5-year and 7-year Bonds, worth a total of SCR 1.5 billion will be available on tap as from Thursday 28th January 2021.
The 3-year Bond worth SCR 300 million will be earning a fixed interest rate of 7% per annum, paid annually on March 20th and calculated on a 365-day year.
The 5-year Bond worth SCR 700 million and the 7-year Bond worth SCR 500 million, will be earning a fixed interest rate of 8% and 10%per annum, respectively. Interest for both Bonds will be paid half-yearly, on March 20th and September 20th and calculated on a 365-day year.
All three Bonds will be issued in multiples of SCR 1,000 with a minimum value of SCR 1,000.
The Bonds can be purchased by adult individuals (singly or jointly), commercial banks, corporate bodies, institutions, clubs, societies and other organisations. The issuance of the Bonds is applicable to both residents and non-residents, 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 newspapers of Tuesday 26th January, Wednesday 27th January and Thursday 28th January, 2021. Copies of the prospectuses and application forms can also be downloaded from the CBS website: www.cbs.sc.
The Bonds are being issued as part of Government effort to raise funding for additional spending, in light of the continuous impact of the COVID-19 pandemic on the Seychelles economy.