SVG auctions $16 million Treasury bill on regional securities market

Investors interested in diversifying their portfolio may consider the St. Vincent and the Grenadines EC$16 million 91-day Treasury bill, which was auctioned on Wednesday September 20, 2006 on the Regional Government Securities Market (RGSM).

With a minimum amount of EC$5,000.00, investors can buy treasury bills, notes and bonds on the RGSM through a licensed broker dealer.{{more}}

Trading on the Regional Government Securities Market has been relatively strong since the start of August 2006 a release from the Eastern Caribbean Central Bank stated.

In August the governments of Antigua and Barbuda and St Vincent and the Grenadines both auctioned their monthly EC$17.0m and EC$16.0m treasury bills, which cleared at a market price of 6.5 and 5.82 per cent respectively.

Additionally, two 10-year bonds were auctioned at a fixed price. These were: the Government of Saint Lucia’s issue of EC$50m at 7.40 per cent and the Government of St Vincent and the Grenadines’ issue of EC$40.0m at 7.5 per cent.

According to the ECCB, as at 31 August 2006, the total amount of government securities listed on the secondary market was EC$715.83 million, while the total volume of government securities traded on the secondary market during August was EC$6.227m at a value of EC$6.120m.

Trading activity on the RGSM brings the total number of participating governments to six: Antigua and Barbuda, Grenada, St Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines and the Commonwealth of Dominica.