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Central Bank of Seychelles to administer the issue of a Government of Seychelles Treasury Bond
A Treasury Bond is an instrument used by the Government to borrow money. In Seychelles, Treasury Bonds are issued with a term of more than one (1) year and sold at face value.
Treasury Bonds may be sold by tender or on tap as determined by the Government. In the case of sales by tender, the rate is determined by the market, and in the case of tap sales, the rate is fixed by the Government, taking into account the prevailing rates in the domestic money market.
The interest rate on the bond shall be stated on the prospectus and the interest payments shall be made periodically (e.g. quarterly or semi-annually 1 ), as predetermined until maturity. The principal amount borrowed and the interest accrued is made payable upon maturity of the bond.
As of August 07, 2017, the Financial Markets Division of the CBS will be administering the issue of three Treasury Bonds on behalf of the Government of Seychelles.
1 The period is not based on the calendar year