RGSM To Begin Operating on Wednesday November 20
Basseterre, November 18, 2002 History will be created in the Eastern Caribbean Currency Union on Wednesday, November 20, 2002, when the bidding opens to signal the start of the Regional Government Securities Market, through which the participating governments will issue their securities across all eight member countries. The market will open at 9.00am with an EC $75 million bond issue from the government of Saint Christopher (St Kitts) and Nevis offering a return of 7.5%, over ten years, being auctioned on the Eastern Caribbean Securities Exchange. Investors wishing to purchase bonds will be able to place their bids with any of the six licenced market intermediaries up until 2.00pm on Friday, November 22. Settlement will take place on Monday, November 25th. Further details about the issue are available from the ECSE website, or from any of the intermediaries. Dr the Hon Denzil Douglas, Prime Minister and Minister of Finance for St Kitts will officially launch the market and deliver the feature address at a ceremony to mark the occasion, at the Sir Cecil Jacobs Auditorium at the ECCB Headquarters, beginning at 8.30am. Arrangements have been made for the ceremony to be carried live on radio in all eight participating member countries.
Eastern Caribbean Central Bank
P O Box 89, Basseterre,
St. Kitts
Contact Person: Elizabeth Tempro, Director, Corporate Relations Department
Phone: (869) 465-2537
Fax: (869) 466-2873
Email: eccbinfo@caribsurf.com
