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Barbados Central Bank offers third tranche of savings bonds

Published:Thursday | June 11, 2015 | 6:00 AM
The Central Bank of Barbados is seen in the background in Bridgetown, Barbados.

CMC:

The Central Bank of Barbados (CBB) was to offer a third tranche of savings bonds to subscribers on Wednesday after the first two totalling BDS$20 million had sold out within days.

The CBB said that the new tranche would have a nominal value of BDS$25 million and is the third series issued since it relaunched its savings bonds programme two weeks ago.

"We've increased the size of the tranche to ensure that everyone who is interested in investing in savings bonds is able to get them," said Linel Franklin, senior operations officer at the central bank.

"We have gotten many calls from people who want bonds but haven't been able to get them. We don't want them to be turned away again."

Franklin confirmed that the pricing and rate will remain the same for the new series.

The new bonds will cost BDS$76.24 per BDS$100, which represents a yield to maturity of 5.5 per cent, said Franklin. It's the same price offered on the first two issues. "People can still purchase from BDS$50 to BDS$100,000," she said.

Subscribers to the first two issues are also eligible to participate in the current offer.

"If you've already bought savings bonds from series 75 or 76, even if you purchased the maximum, you can still buy from this one," Franklin said.