The Central Bank of Bahrain (CBB) has announced that the issue of the 7.5-year government development bonds worth BD350 million ($923 million) has been oversubscribed by 125 per cent.

Subscriptions worth BD438 million ($1.15 billion) were received for the issue, the bank said.

The expected interest rate on the issue, which begins on 12 September 2013 and matures on 12 March 2021, is 5.50 per cent.

The Government Development Bond are issued by the CBB on behalf of the Government of Bahrain. – TradeArabia News Service