SVG Treasury Bill issue oversubscribed

The Government of St. Vincent and the Grenadines’ EC$20 million Treasury Bill issue, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Services Exchange (ESCE),{{more}} was oversubscribed by EC$26.14 million.

Five licensed intermediaries placed a total of 13 bids, ranging from $20, 000 to $12.0 million with an aggregate value of $46.14 million. A competitive uniform price auction methodology was used and the resulting discount rate was 3.999 per cent.

The brokerage firms of Bank of Nevis, Bank of St. Vincent and the Grenadines Ltd, ECFH Global Investment Solutions, First Citizens Investment Services and National Mortgage Finance Company participated in this auction.