SVG 91-day treasury bill oversubscribed by $20.9m

The Government of St Vincent and the Grenadines’ $25.0 million 91-day 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 $20.9 million.{{more}}

A release from the ECSE said six licensed intermediaries placed a total of 24 bids, ranging between $5,000 and $11.2 million, with an aggregate value of $45.9 million. A competitive uniform price auction methodology was used and the resulting discount rate was 3.25 per cent.

Antigua Commercial Bank Ltd, Bank of St Vincent and the Grenadines Ltd, ECFH Global Investment Solutions Limited, First Citizens Investment Services Limited, Financial Investment and Consultancy Services Limited and National Mortgage Finance Company of Dominica Limited were the brokers that participated in this auction.