Government makes full payment on 2006 securities launched on RGSM

ST. JOHN’S, Antigua, CMC – The Antigua and Barbuda government says it has completed payment on the first set of securities to be issued on the Regional Government Securities Market (RGSM) in 2006. In a statement, the Baldwin Spencer administration said that the programme launched on March 15, 2006, included a set of 91-day Treasury Bills Auctioned for a total EC$51 million (One EC dollar=US$0.37 cents) and issued in three tranches of EC$17 million at 6.5 per cent interest maximum, a step-up 7-year Bond of US$26 million in interest rates of 100 basis points over the life of the bond and a Treasury Note of EC$30 million at 8.25 per cent per annum. It said that the total package amounted to EC$151 million dollars and that “payment on the securities have been made on time and in full throughout the programme, starting with the repayment of the Treasury Bills in 2010, the repayment of the EC$30 million Treasury Note in 2011”.