Government of St Lucia Issues EC$25M Bonds on the ECSE

Monday, January 30, 2006 - The Government of St Lucia’s twenty five million Eastern Caribbean dollars (EC$25 million) 10-year, bond issue was auctioned on the primary market platform of the Eastern Caribbean Securities Exchange (ECSE) during the period 23 -27th January 2006.

At the close of the bidding period at 12:00 noon on Friday 27th January, licensed intermediaries had placed a total of 12 bids, ranging from $10,000 to $10,000,000 with a total value of $25,000,000. A fixed price auction methodology was adopted, using a coupon rate of 6.50%.

Bids for this offering were submitted by the National Commercial Bank (SVG) Ltd., the Bank of St Lucia Ltd., the St. Kitts Nevis Anguilla National Bank Ltd, Caribbean Money Market Brokers Ltd, National Bank of Anguilla Ltd, National Mortgage and Finance Company of Dominica Ltd, and Republic Finance and Merchant Bank Ltd (FINCOR).

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