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
Bank of Papua New Guinea