Corporate papers are unsecured short-term debt instruments backed by the creditworthiness of a financial institution. ECHMB’s creditworthiness is assessed by the Caribbean Information & Credit Rating Services (CariCRIS) annually. The ECHMB is the only corporate entity in the ECCU with an investment grade credit rating (BBB+). Tenors include 365 days with a minimum investment amount of XCD 5,000.
ECHMB’s Corporate Papers are issued by private prospectus with Eastern Caribbean Stock Exchange (‘ECSE’) acting as the Bank’s Registrar, Transfer and Paying Agent. Interest is usually payable semiannually.
Benefits to Investor:
- Competitive Interest Rate
- Investment Grade Credit Quality
- No Acquisition Costs