Inscribed Stock Invitations

INSCRIBED STOCKS AUCTION INVITATION

DATE: 12th November 2018

AUCTION NUMBER: IS18/11/4-23

SETTLEMENT DATE: 23rd November, 2018

AMOUNT OFFERED: K330,850.000  “MILLION”

The Bank of Papua New Guinea invites bids for the tender of K330,850,000 Papua New Guinea Government Inscribed Stock as follow:-

Series Issue Date Coupon Last Coupon Date Next Coupon Date Maturity Date Amount on Offer Pre.Weighted Avg. Rate
S15022021 15 FEB 2017 9.00% 15 AUG 2018 15 FEB 2019 15 FEB 2021 K50,850,000  9.54%
S15052022 15 NOV 2016 10.50% 15 NOV 2018 15 MAY 2019 16 MAY 2022 K80,000,000  10.50%
S15052025 15 NOV 2015 11.50% 15 NOV 2018 15 MAY 2019 15 MAY 2025 K90,000,000  11.54%
S15112028 15 MAY 2018 12.50% 15 NOV 2018 15 MAY 2019 15 NOV 2028 K110,000,000  12.58%

Bidders must lodge bids in the prescribed form, put in sealed envelopes and deposited in the Tender Box located in the 2nd floor Financial Markets Department counter, Bank of Papua New Guinea, Port Moresby.

The auction closes at 12:00 noon on Tuesday, 20th of November 2018.

Successful bids must be settled no later than 12:00 noon on Friday 23rd of November 2018.

Each bid for stock must be of a minimum K100,000.00 and in multiples on K10,000 (Principal) thereafter. Each bid must state the Yield sought by the bidder. The yield is to be expressed to the second decimal place (e.g. 6.50%). Decimal places beyond two will be disregarded.

The Bank of Papua New Guinea reserves the right to accept for the full amount of an invitation to Tender or any part thereof and to reject any bid or part thereof on any grounds whatsoever, notwithstanding the full amount of Stocks in an invitation to Tender has not been taken up.

The Bank of Papua New Guinea also reserves the right  to accept over subscription of up to 25 percent of the amount offered for the tender in any maturity.

Loi M Bakani, CMG

GOVERNOR

Bank of Papua New Guinea

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