250 GRENADA HAS ANOTHER SUCCESSFUL RUN IN ITS RGSM ACTIVITIES

 

 

NO. 7/2017                                       DATE: January 30, 2017 

 

GRENADA HAS ANOTHER SUCCESSFUL RUN IN ITS RGSM ACTIVITIES

 

ST. GEORGE’S, GRENADA, MONDAY, JANUARY 30, 2017: On January 25^th 2017, Grenada issued its first 91 day treasury bill for 2017 on the Regional Government Securities Market.  

 

The issue was for EC$10 million with the option to take an additional EC$5 million.  

 

The auction which took place on the Eastern Caribbean Securities Exchange platform had over-subscriptions of EC$16.6 million and a final rate is 2.499%.

 

This is the lowest rate Grenada has received on the regional market since it began floating the 91 day benchmark Treasury Bill in 2011. 

 

 

In the later part of 2016, the reserve rate on Grenada’s three month Treasury bill was reduced to 4.0% as investor confidence and market forces resulted in a new equilibrium.