The Government of Antigua and Barbuda 91-day, $17 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$40.6 million, the ECSE reported Monday from Basseterre, St Kitts.
Licensed intermediaries placed a total of 23 bids, ranging from $8,000 to $17,000,000 with an aggregate value of $57,629,000. A competitive uniform price auction methodology was used and the resulting discount rate was 5.2 per cent.
The brokerage firms of ABI Bank Ltd, Antigua Commercial Bank Ltd, Bank of Nevis Ltd, Bank of St Lucia Ltd, Caribbean Money Market Brokers Ltd, National Commercial Bank (SVG) Ltd, National Mortgage and Finance Company of Dominica Ltd, St Kitts Nevis Anguilla National Bank Ltd and Republic Finance and Merchant Bank Ltd participated in this auction.
About Mark Lee
Mark Lee has been a long-time journalist writing, editing and producing in print, radio television and new media.