Grenada Attracts 1.75% Yield On The RGSM
GOVERNMENT OF GRENADA, 18th June 2019: Grenada continues to attract very low yields on its short term debt instruments with the latest auction of a 91-day Treasury bill on the Regional Government Securities Market (RGSM) yielding an interest rate below 1.80 percent. For the first time in its history, the Government of Grenada was able to attract a sub- 1.8 percent yield on the RGSM.
On June 17, 2019, the Government re-issued an EC$15.00 million, 91 Day Treasury Bill, which was oversubscribed by EC$14.16 million at a cutoff yield of 1.7500%. This is the lowest yield in the region for the year. On March 14, 2019, Grenada also attained a low yield of 1.900% on its 91 Day Treasury Build Issuance. This is a clear indication of investors’ interest in the secure investment and attractive climate that now exists in the tri-island state.
The securities were competitively auctioned and reflected increases in demand by investors. This resulted in a total of $29.16 million in bids, an oversubscription of $14.16 million. Three licensed brokers placed a total of 16 bids.The successful auction and the continuous low yields of Government of Grenada’s Treasury bills are a direct result of local, regional and international confidence in the management of Grenada’s finances and the perception of prudent financial management and consistently reduced risk of investing in Grenada.