More Opportunities for Investments
Investors have the opportunity to participate in the governments of Antigua and Barbuda and St. Vincent and the Grenadines monthly 91-day treasury bills as well as the upcoming August bond issues of the Governments of Saint Vincent and the Grenadines and Saint Lucia. The Governments of Saint Vincent and the Grenadines intend to auction a 10-year XCD40.0m bond on 16 August 2006 and Saint Lucia a 10-year XCD50.0m bond on 29 August 2006. Bidding starts on the day preceding the auction date. To date $1.436 billion from 65 security issues (54 treasury bills, 3 treasury notes and 8 bonds) has been raised on the RGSM by the five issuing Governments: Antigua and Barbuda, Grenada, Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines. The interest obtained by the Participating Governments ranged from 3.90 to 6.5 per cent for treasury bills, 5.5 to 8.0 per cent for treasury notes, and 6.00 to 8.00 per cent for bonds. The duration of the securities issued were 91 days and 365 days for treasury bills, 5 years for treasury notes, and 6, 7 and 10 years for bonds. Overall the RGSM has contributed to a reduction in the cost of borrowing for the participating governments. It is expected that as more ECCU member governments use the RGSM to source capital for their countries
