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Palestine Commercial Bank offers bonds for subscription

2014-06-16

Palestine commercial Bank PCB announced, after the approval of the Palestinian Capital Market Authority, offering bonds for public subscription and secondary subscription for the shareholders of the bank registered as of 19/03/2014, with priority to the bank’s shareholders, as follows: 

• The number of bonds offered for subscription is 10,000 bonds, with a total value of $10,000,000; par value per bond of $1,000.
• The bonds are subject to fixed interest rate,for the first thirty months, of 6.5% annually, and an annual variable interest for the remaining thirty months that is not less than the applicable interest rate throughout the life of the bond, with a floor of 6.5% and ceiling of 7.5% per annum until the maturity of bonds and conversion into stocks.
•   Issuance date is 3/7/2014 and maturity date is 3/7/2019. 
•    The subscription starts beginning of the business day of Tuesday 17/6/2014 and ends at the end of the working day of Monday 30/6/ 2014. 
•    The subscription will be through Bank of Palestine branches throughout Palestine.