ECHMB raises EC$7.5 million on the ECSM

Posted: Wednesday , October 25 , 2017

The 1st tranche of the Eastern Caribbean Home Mortgage Bank’s 1-year Corporate Paper, KN25516NBY87, trading symbol HMB201018, auctioned on the Eastern Caribbean Securities Market, using the primary issuance platform of the Eastern Caribbean Securities Exchange (ECSE) raised $7.5 million.

Four licensed intermediaries placed a total of 11 bids, ranging from $100,000 to $3.0 million, with an aggregate value of $12.62 million.  A competitive uniform price auction methodology was used and the resulting interest rate was 2.25 per cent.

Bids for this offering were submitted by Bank of Saint Lucia Ltd, The Bank of Nevis Limited, First Citizens Investment Services Ltd. and Grenada Co-operative Bank Ltd.