St Vincent and the Grenadines $16M Treasury Bill Issue Oversubscribed by $28M

 The Government of St Vincent and the Grenadines 91-day, EC$16-million 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 EC$27.8 million, the ECSE reported Tuesday (March 25).

Licensed intermediaries placed a total of 13 bids, ranging from $20,000 to $12.0 million with an aggregate value of $43.83 million. A competitive uniform price auction methodology was used and the resulting discount rate was 5.20%.

The brokerage firms of Bank of Saint Lucia Ltd, Caribbean Money Market Brokers Ltd, National Commercial Bank (SVG) Ltd, and National Mortgage and Finance Company of Dominica Ltd participated in this auction.

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