Government of Saint Lucia - National Savings and Development Bonds 2002/2012
GOVERNMENT OF SAINT LUCIA - NATIONAL SAVINGS
AND DEVELOPMENT BONDS 2002/2012
ISSUE OF 60,000,000 EASTERN CARIBBEAN DOLLARS
AUTHORISED UNDER A RESOLUTION OF PARLIAMENT
Interest payable on February15 and August 15
Price of Issue - 100%
The Government of Saint Lucia hereby invites applications for the National Savings and Development Bonds as stated above. The sum of Sixty Million Eastern Caribbean Dollars (EC$60,000,000) which is being raised under a Resolution of Parliament, will be used to finance capital development in the State and in particular, economic and social infrastructure.
The Bonds are encashable on maturity upon surrender to the Accountant General or his authorized agent. The Principal and the interest payable on the money raised from this bond issue are a charge on the Consolidated Fund and are payable therefrom.
Interest at the rate of 7 % per annum will be payable half yearly on February 15 and August 15 of each year on demand at the Treasury, to the holder of the Bonds as appears in the register of Bonds.
The Bonds are open to subscription from residents and non-residents alike and the interest payable thereon will not be subject to any taxes. Bonds may be issued to a person or to two or more persons jointly or to a body of persons.
A Sinking Fund for the Redemption of the Loan will be established by the Government of Saint Lucia.
The Bonds will be in denominations of $1,000, $5,000, $10,000, $20,000, $25,000, $50,000, $100,000, $200,000 and $500,000. Every Bond and the right to the principal and interest thereon will be transferable by delivery. The Accountant General is to be informed of any transfer in the ownership of the Bonds.
The Government of St. Lucia intends to list the bonds on the Eastern Caribbean Securities Exchange, in order to facilitate secondary trading of these securities.
Applications as per the attached form may be obtained from the Accountant Generalís Department, the General Post Office, Sub-Collectorsí Offices and Banks operating in the State. Copies of the application form together with the Prospectus can also be downloaded from this website
Completed applications are to be returned to the Accountant Generalís Department of the Ministry of Finance and should be accompanied by the full amount of the purchase price of the Bonds for which application is made.
Cheques should be made payable to the Accountant General of Saint Lucia. A separate cheque must accompany each application.
The list of applicants will be opened at 9.00 a.m. on August 15, 2002 and will remain open until the full amount of the issue is subscribed or until further notice.
Ministry of Finance, International Financial
Services and Economic Affairs
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