'NO. 07/2016                                                       DATE: January 28, 2016

 

GRENADA HAS HAD AS SUCCESSFUL START TO ITS RGSM ACTIVITIES FOR 2016

 

ST. GEORGE’S, GRENADA, Thursday, January 28, 2016: On January 18^th, 2016, the Government of Grenada raised EC$15 million on the Regional Government Securities Market (RGSM) in 91 Day Treasury bills, using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE).

The security was competitively auctioned and resulted in an oversubscription of $2.1 million and a very favourable interest rate of 4.49%. This represents the lowest rate for 91 day bills auctions throughout the ECCU region for 2016 thus far. Other auctions held for the month of January resulted in rates of 6.0 % for Dominica on January 5^th 2016, 4.82% for St. Vincent & The Grenadines on January 6^th and 4.499 % for St. Lucia on January 20^th 2016.

This extremely good start signals continued investor confidence in Government of Grenada Securities.