Corporate Papers

It is a debt security, under which the ECHMB owes the holders a debt and, depending on the terms of the Corporate Paper, is obliged to pay them interest (the coupon) and/or to repay the principal at a later date, termed the maturity date. The instrument is normally issued for a tenure of 365 days or less. Investments start at XCD 5,000.

ECHMB Corporate Papers are issued by public prospectus utilizing the platform of the Eastern Caribbean Securities Exchange (ECSE). The ECSE is also contracted as the Bank’s Transfer and Paying Agent.

Schedule of Corporate Paper Issues for 2018

Investment Type Amount Tenure Auction Date Settlement Date View Prospectus
Corporate Paper 3 (HMB040419) $30,000.000.00 365 03-Apr-2018 04-Apr-2018 Click Here
Corporate Paper 4 (HMB010619) $30,000,000.00 365 31-May-2018 01-Jun-2018 Click Here
Corporate Paper 5 (HMB040719) $31,200,000.00 365 03-Jul-2018 04-Jul-2018 Click Here
Corporate Paper 6 (HMB280919) $18,770,000.00 365 27-Sep-2018 28-Sep-2018 Click Here
Corporate Paper 7 (HMB221019) $7,500,000.00 365 19-Oct-2018 22-Oct-2018 Click Here
Corporate Paper 8 (HMB261119) $7,500,000.00 365 23-Nov-2018 26-Nov-2018 Click Here
Corporate Paper 9 (HMB281219) $27,637,000.00 365 27-Dec-2018 27-Dec-2018 Click Here

Interest is usually payable semiannual. The ownership of the instrument can be transferred on the secondary market (ECSE); this means that ECHMB’s Corporate Papers, are highly liquid.

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