SVG $20M treasury Bill Issue Oversubscribed
31.JULY.08
The Government of St. Vincent and the Grenadinesâ 91-day, EC$20.0 million Eastern Caribbean dollars Treasury bill issue, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), was oversubscribed by $2.2 million.{{more}}
Licensed intermediaries placed a total of 18 bids, ranging from $45, 000 to $7.0 million with an aggregate value of $22.2 million. A competitive uniform price auction methodology was used and the resulting discount rate was 5.82 per cent.
The brokerage firms of Bank of Saint Lucia Ltd, National Commercial Bank (SVG) Ltd, National Mortgage and Finance Company of Dominica Ltd, and Republic Finance and Merchant Bank Ltd. participated in this auction.
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