The Central Bank of the Bahamas published its Domestic Market Brief for the third quarter of 2025, reporting that around 1.8 billion in government securities was issued largely to refinance existing debt, alongside a decline in overall market absorption. Treasury bills accounted for 89% of securities issued and Bahamas Registered Stock (BRS) for 11%, with the quarter including four BRS re-openings. The aggregate absorption rate fell to 88% from 105% in the prior quarter, driven by weaker Treasury bill demand, with average T-bill absorption at 85% and average absorption rates of 92%, 76% and 54% across the 91-, 182- and 364-day tenors, respectively. By contrast, investor uptake of BRS totalled 222 million, representing an oversubscription of 29 million, and the average BRS absorption rate rose to 115% from 79%, with subscriptions concentrated in the 3-year and 7-year tranches (66% of total subscriptions). The brief also points to a calendar of upcoming BRS offers on the central bank’s website.
Central Bank of the Bahamas 2025-10-14
Central Bank of the Bahamas reports 1.8bn in Q3 2025 government paper issuance as market absorption falls to 88%
The Central Bank of the Bahamas released its Domestic Market Brief for Q3 2025, highlighting the issuance of approximately 1.8 billion BSD in government securities, primarily for debt refinancing, with a decline in overall market absorption. Treasury bills comprised 89% of the issuance, with an average absorption rate of 85%, while Bahamas Registered Stock (BRS) was oversubscribed, with an average absorption rate rising to 115%. The report also includes a schedule of upcoming BRS offers.