by Linda Straker
- EC$10 million note issued by the Government of Grenada on 8 February 2018 raised an aggregated valued of $10.754 million
- Bank of St Lucia Limited, the Bank of St Vincent and the Grenadines Limited, Grenada Co-operative Bank Ltd and First Citizens Investment Services Limited participated
A two-year EC$10 million note issued by the Government of Grenada on 8 February 2018 raised an aggregated valued of $10.754 million according to a news release on the Eastern Caribbean Securities Exchange website.
“Four licensed intermediaries placed a total of 14 bids, ranging from $8,000 to $5.0 million, with an aggregate value of $10.754 million,” stated the release which explained that a competitive uniform price auction methodology was used and the resulting interest rate was 5.50%. It will mature on 9 February 2020.
The 2-year note was auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE) and raised $10.0 million.
The brokerage firms of the Bank of St Lucia Limited, the Bank of St Vincent and the Grenadines Limited, Grenada Co-operative Bank Ltd and First Citizens Investment Services Limited participated in this auction.
The ECSE is a regional securities market established by the Eastern Caribbean Central Bank and licensed under the Securities Act of 2001 – a uniform regional body of legislation governing securities market activities.
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