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Tarlie Francis, Senior Manager, Market Operations Division, Eastern Caribbean Securities Exchange (ECSE)

Eastern Caribbean interest rate movements

Tarlie Francis, Senior Manager, Market Operations Division, Eastern Caribbean Securities Exchange (ECSE)

The Eastern Caribbean Securities Exchange (ECSE) released the recent activities of the Central Banks of member states for the period of 30-day period ending September 20, 2019.

Photo: Business View Caribbean

The resulting money market fixed income type securities used the ECSE platform called the Regional Government Securities Market, to raise the money for the respective governments. Interest rates ranged from 1.9 per cent in Dominica to 7 percent in St. Vincent and the Grenadines.

Government of St Vincent and the Grenadines’ interest rates hit 7% on a 7-year Bond Issue

Five local investment houses participated in the recent auction of the government bond issue in the month of August.

The St. Vincent and the Grenadines Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), raised $25.0 million.

The licensed intermediaries placed a total of 19 bids, ranging from $20,000 to $8.0 million, with an aggregate value of $25.6 million the resulting interest rate was 7.0 per cent.

The brokerage firms of Bank of St Vincent and the Grenadines Limited, Bank of Saint Lucia, First Citizens Investment Services Ltd, Grenada Co-operative Bank Ltd and St Kitts Nevis Anguilla National Bank Ltd participated in this auction.

Government of Saint Lucia’s 5-year Bond Issue closes at 5.75%

Photo: Shutter Stock

The Government of Saint Lucia’s 5-year Bond issue, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), raised EC$15.2 million.

Three licensed intermediaries placed a total of 18 bids, ranging from $8,000 to $3.0 million, with an aggregate value of $15.2 million. A competitive uniform price auction methodology was used and the resulting interest rate was 5.75 per cent. Bank of Saint Lucia Ltd, First Citizens Investment Services Ltd and Grenada Cooperative Bank Ltd were the brokers that participated in this auction.

Government of Antigua and Barbuda’s 365-day Treasury bill Issue

The Government of Antigua and Barbuda’s 365-day Treasury bill issue, auctioned on the Regional Government Securities Market using the primary market platform of the

Eastern Caribbean Securities Exchange (ECSE), raised $25.0 million.

Two licensed intermediaries placed a total of 17 bids, ranging from $10,000.00 to $11.3 million, with an aggregate value of $27.4 million with the resulting discount rate 5.21327 per cent.

The brokerage firms of the Bank of St Vincent and the Grenadines Ltd and First Citizens Investment Services Ltd participated in this auction.

Government of Antigua and Barbuda’s 365-day Treasury bill Issue

The Government of Antigua and Barbuda’s 365-day Treasury bill issue, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), raised $25.0 million.

Two licensed intermediaries placed a total of 17 bids, ranging from $10,000.00 to $11.3 million, with an aggregate value of $27.4 million with the resulting discount rate 5.21327 per cent.

The brokerage firms of the Bank of St Vincent and the Grenadines Ltd and First Citizens Investment Services Ltd participated in this auction.

Government of the Commonwealth of Dominica’s 91-day Treasury bill Issue

The Government of the Commonwealth of Dominica’s 91-day Treasury bill issue,auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), raised $20.0 million.

Three licensed intermediaries placed a total of 11 bids, ranging from $50,000 to $5.0 million, with an aggregate value of $29.4 million with the resulting discount rate was 1.98018 per cent.

Bank of Saint Lucia Ltd, Bank of St Vincent and the Grenadines Ltd and First Citizens Investment Services Limited were the brokers that participated in this auction.