Structuring shares of bond for sale

Darrell Bradley

A total of eleven individuals and businesses have bought into the primary offering since it was launched on November twenty-sixth.  The smallest shares are in the amount of two individual bonds, while the largest stocks are seven thousand, five hundred and twelve thousand, five hundred bonds, respectively.

Darrell Bradley, Belize City Mayor

“What we’ve done is that in tranche one is we’ve structured it so that it’s a laddered offering. And what that means is that in tranche one, which is ten million dollars, there is a certain proportion of the two year bond, there is a certain proportion of the five year bond and there is a certain proportion of the ten year so that persons may have that variety and option in tranche one.  What we’ve seen is that the five million dollars have been all but subscribed fully.  The ten-year has been all but subscribed in tranche one, we haven’t gotten that amount, that significant amount of interest for the shorter yield, which is the two-year.  What we have determined that we will do is that we will remove a small amount, perhaps one million dollars from the two-year and then we will put that onto, more than likely, the five-year and with that then we will have a fully subscribed first tranche of the municipal bond and we expect that all of those things will be in place by tomorrow.”

The tentative deadline for purchase of bonds is set for December twenty-fourth, however, that time limit may be shortened as a result of the high demand.