Central Bank of Barbados offers more savings bonds after two sets sell out in days

The $25 million in savings bonds, the third since the Central Bank re-launched its savings bonds two weeks ago – went on sale from Wednesday.

The nominal value of the first two series of bonds, which were made available on June 1 and June 8, was $10 million each.

“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,” explained 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 would remain the same for the new series.

They will still cost BDS$76.24 (US$38.12) per BDS$100 (US$50), with a yield to maturity of 5.5 per cent. Purchases can range from BDS$50 (US$25) to BDS$100,000 (US$50,000).

Franklin said Barbadians who bought bonds from previous series are still eligible to invest in this new tranche. “Even if you purchased the maximum, you can still buy from this one,” she said.

Governor of the Central Bank Dr. DeLisle Worrell said the response from the public has been overwhelming.

“All Barbadians should have the opportunity to take advantage of these safe, lucrative investments. We’re ecstatic that savings bonds are a secret no more,” he said.

The Central Bank of Barbados has been issuing savings bonds for 35 years. They are available for purchase by all Barbadian citizens and permanent residents as well as credit unions, registered charities and other benevolent associations.




 

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