By Reshmi Basu
New York, July 26 - The government of Antigua and Barbuda raised US$26 million of seven-year bonds with an interest rate of 8%, marking the first long-term dollar-denominated bond to be auctioned on the Regional Government Securities Market (RGSM).
Investors included individual and institutional investors from Antigua and Barbuda, Anguilla, Barbados, Jamaica, Canada, New York and Atlanta.
Bids ranged from $2,000 to $5 million, according to a statement filed by the Ministry of Finance and Economy.
The government's objective is to raise a total of EC$151 million on the RGSM. And so far, the country has raised EC$121 million.
On Thursday, the ministry will seek to raise the remaining EC$30 million by issuing a five-year bond in that amount.
| Issuer: | Antigua and Barbuda
|
| Amount: | US$26 million
|
| Issue: | Bonds
|
| Tenor: | Seven years
|
| Coupon: | 8%
|
| Announcement date: | July 26
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
