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SVG auctions EC $16M Treasury Bill on the ECSE


The Government of St Vincent and the Grenadines’ EC $16 million 91-day, treasury bill issue was auctioned on the primary market platform of the Eastern Caribbean Securities Exchange (ECSE).

This is the third Treasury Bill offered by the Government of St. Vincent and the Grenadines. Last month the Government successfully raised EC$16 million on the ECSE platform by issuing a 91-day Treasury Bill.{{more}}

At the close of the bidding period at 12 noon on Monday, July 24, licensed intermediaries had placed a total of 9 bids, ranging from $60,000 to $5,000,000 with a total value of $12,630,000. A competitive uniform price auction methodology was used and the resulting discount rate was 5.5% per annum.

Bids for this offering were submitted by Republic Finance and Merchant Bank Ltd (FINCOR), the National Commercial Bank (SVG) Ltd, the Bank of St. Lucia Ltd and ABI Bank Ltd.