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BARBADOS GOVERNMENT – 6 7/8% DEBENTURES 2023
ISSUE DATE: DECEMBER 1, 2012
Forming part of a loan of $5,000,000,000 issued under the Local Loans Act,
1988 – 1 and Local Loans (Amendment) Act, 2010.
Interest will be payable on May 31 and November 30 of each year.
The Loan is being raised to assist with the financing of the Development Plan.
Debentures under this issue will be in denominations of one thousand dollars or a multiple thereof and will before being issued, be recorded in the Register of Securities at the CENTRAL BANK OF BARBADOS. Each Debenture and the right to receive principal and interest represented thereby will be transferable. Debentures are eligible securities for trading on the Barbados Stock Exchange Inc.
The interest due to Pensioners 60 years and over residing in Barbados will not be subject to withholding tax. Non-resident holders seeking Tax exemption must satisfy the Commissioner of Inland Revenue of their status before exemption is granted. However, for all other persons resident in the Island, the interest from the Debentures will not be aggregated with other income, but will be taxed separately at a rate not exceeding 12½%.
This loan is secured on the Consolidated Fund and assets of the Government of Barbados. A sinking fund will be established by half-yearly appropriations out of the Consolidated Fund with accumulations of interest to enable the Debentures to be redeemed when they fall due.
The Debentures will be repayable at par on November 30, 2023.
Applications are invited for subscription to
BARBADOS GOVERNMENT – 7¼% DEBENTURES 2026
ISSUE DATE: DECEMBER 1, 2012
Forming part of a loan of $5,000,000,000 issued under the Local Loans Act,
1988 – 1 and Local Loans (Amendment) Act, 2010.
Interest will be payable on May 31 and November 30 of each year.
The Loan is being raised to assist with the financing of the Development Plan.
Debentures under this issue will be in denominations of one thousand dollars or a multiple thereof and will before being issued, be recorded in the Register of Securities at the CENTRAL BANK OF BARBADOS. Each Debenture and the right to receive principal and interest represented thereby will be transferable. Debentures are eligible securities for trading on the Barbados Stock Exchange Inc.
The interest due to Pensioners 60 years and over residing in Barbados will not be subject to withholding tax. Non-resident holders seeking Tax exemption must satisfy the Commissioner of Inland Revenue of their status before exemption is granted. However, for all other persons resident in the Island, the interest from the Debentures will not be aggregated with other income, but will be taxed separately at a rate not exceeding 12½%.
This loan is secured on the Consolidated Fund and assets of the Government of Barbados. A sinking fund will be established by half-yearly appropriations out of the Consolidated Fund with accumulations of interest to enable the Debentures to be redeemed when they fall due.
The Debentures will be repayable at par on November 30, 2026.