BY Alecia Pemberton:
The Government of Grenada’s 365-day Treasury bill, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), raised $25.0 million.
Four licensed intermediaries placed a total of 25 bids, ranging from $10,000 to $7.4 million, with an aggregate value of $38.9 million. A competitive uniform price auction methodology was used and the resulting discount rate was 2.6764 per cent.
The brokerage firms of the Bank of St Vincent and the Grenadines, Bank of St Lucia Limited, First Citizens Investment Services Limited and Grenada Co-operative Bank Ltd participated in this auction.