June 24, 2005
Government issues another treasury bill

The Government of St Vincent and the Grenadines has issued another in its series of ninety-one (91) day, sixteen million Eastern Caribbean dollar (EC$16,000,000) Treasury Bills via a competitive uniform price auction using the ECSE Primary Market Platform. The bidding period was from 9 a.m. to 12 noon, yesterday, Thursday, June 23.

The last EC$16,000,000 treasury bill issued by the Government was oversubscribed by almost $19,000,000. When the bidding period closed at 12 noon on Tuesday, May 24, licensed intermediaries had placed a total of nine bids, ranging from $10,000 to $12,000,000 with a total value of $34,703,000. A competitive uniform price auction methodology was adopted and the resulting discount rate was 3.98%. (ECSE)