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BAHAMAS: Country moves one step closer to electronic trading of Government bonds

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#Nassau, August 3, 2019 – Bahamas – The Ministry of Finance is pleased to announce that Bahamas Government Registered Stocks (BGRS) have been approved for listing on the Bahamas International Securities Exchange (BISX or the Exchange). This major step forward paves the way for Bahamians to be able to buy and sell Government bonds on the local securities exchange, and track the value of their investments using the online marketplace.

“We are getting ready to list over 200 government bonds, which (at the time of Press) represents the entire portfolio of outstanding securities going back to 1999. This will stimulate the entire Bahamian capital market, improve our financial market infrastructure, and increase accessibility to Government-backed investments for all Bahamians,” said K. Peter Turnquest, Deputy Prime Minister and Minister of Finance.

“This is another area where the Government is making good on its promise to modernize and keep pace with the digital transformation happening globally, and introduce more efficiency to the Government’s borrowing. Centralized market trading of Government bonds is an important component for the growth of the entire Bahamian capital market. It’s been a longtime in the making and I am proud that this Government’s leadership hashelped to finally bring this project to fruition,” said Minister Turnquest.

The transfer of the secondary market to the Exchange-is a major objective of the Financial Markets Modernization Project, a collaborative effort between the Ministry of Finance, the Central Bank of The Bahamas and BISX. The project seeks to create a centralized marketplace for all Bahamians dollar securities.Several changes are being implemented, including the creation of the centralized marketplace for all Bahamas Government debt dollar securities.

The project’s phases include: 1) Listing BGRS on BISX, 2) Launching a Bahamas Government Registered Stock Depository (BGSD), which will facilitate competitive bidding and other industry-specific market improvements; 3) Transition to a paperless registry, which involves the introduction of digital certificates for Government bonds; and, 4) Electronic trading.

“With this modernization of the country’s financial market infrastructure, Bahamians will now have easy access to investment information and market activity on all Government bonds, and there will be transparency around the pricing of Government securities. Lastly, Bahamians will be able to see and have an opportunity to trade outstanding securities on an open market,” said Minister Turnquest.

10 Things You Need to Know –About the Financial Markets Modernization Project

  1. From August 2019, Government bonds will be listed on BISX: outstanding securities and all future issuances of government bonds.
  2. It is anticipated that in November 2019, trading of Government bonds (i.e., buying and selling) will beginon The Bahamas International Securities Exchange (BISX).
  3. The daily value of individual investment holdings will be determined by market factors, such as demand and supply, and will be displayed publically on the Exchange. This means the price can move up or down.
  4. The initial prices will be set using the Central Bank’s existing pricing structure as currently available on the Central Bank’s website. These prices will apply until trading begins.
  5. Government bonds will no longer be fixed at par (which is the equivalent of the initial purchase price). They will be set by the market.
  6. Once Exchange trading begins, investors who have plans to sell their securities before maturity will be subject to the current market price and any associated fees.
  7. Exchange trading will have no impact on the maturing value of a security (for investments that are held to maturity).
  8. Regardless of the market value, interest and principal payments will not change from the terms set out in the respective Initial Public Offerings for all investors.
  9. Investors participating in new issuances of Government securities in excess of $100,000 will need to utilize a broker to purchase these securities. Those investors with existing holdings that were purchased through the Central Bank can continue to sell those holdings directly through the Central Bank or through a broker.
  10. Investors with existing holdings or new issuances $100,000 and below have the option of buying and selling those holdings directly through the Central Bank or through a broker.

Release: Ministry of Finance

Photo Caption: The Hon. K. Peter Turnquest, Deputy Prime Minister and Minister of Finance, accompanied by executives of the Central Bank of the Bahamas and BISX, commemorating the listing of Bahamas Government Registered Stock on BISX.  Pictured from left: Derek Rolle, Deputy Governor of the Central Bank; Keith Davies, BISX Chief Executive Officer; K. Peter Turnquest, Deputy Prime Minister and Minister of Finance; Andrew Strachan, BISX Chairman. 

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Monument Beverage Co. Caribbean Wines & Spirits Uniquely Bahamian Newest Product

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NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.

Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is inspired by culture, crafted with excellence and bursting with innovation.

This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.

The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.

The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.

Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.

“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.

“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”

The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.

Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.

Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice.  Monument is made to celebrate, visit  www.cwsbahamas.com today for more details.

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Lady Kayla Crowned Goombay Punch Cup Sailing Champion of 2025/2026

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L–R: Joss Knowles, Kianno Hutchinson, Jazmin Darling, Assistant Marketing Manager at Caribbean Bottling Company and Dallas Knowles receiving a donation on behalf of the Exuma Sailing Club at the Long Island Regatta awards ceremony.

NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.

CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.

The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.

Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.

“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.

Hutchinson and Knowles shared what this win meant for them.

“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the Bahamas Goombay Punch Cup,” Hutchinson expressed.

“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.

Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.

“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top.  In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla.  Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.

The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.

For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.

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Caribbean Bottling Supports the 27th Basketball Smiles Week  

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.

Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable Powerade water bottles and numerous marketing materials.

The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.

Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.

Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.

“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.

Sam Nicholls, Basketball Smiles Camp President and Founder expressed.

“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.

CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.

For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.

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