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**tenman** » 2012-12-03 01:05

Shad, apologies I was wrong in taking it for 2012, it was the other bond I mentioned before and the year was 2011 (under subscribed)
..

**Shad** » 2012-12-02 20:42

Hi Tenman I am not sure that I understand you. Are you saying that there was a bond issue in November of 2012 or is it the an earliar bond issue to which you are referring? please clarify?

**tenman** » 2012-12-02 18:32

Shad, the sad part is this (the info you posted) is only for 2012 and includes only treasury bills, when the 25 million, 5 year bond from nov is included, we are talking about 98 million ec.

..

**Shad** » 2012-12-02 16:59

Date Trading Symbol Term Iss ue Amount Issue Date Maturity Date Yield (Coupon Rate) Price Per $ 100 Issue Value No. Of Bids Total Bid Amount
($Mil)
30-Nov-12 AGB031213 365-day $16.70 3-Dec-12 3-Dec -12 6.50% $93.5 0 $15,643,485.00 14 $16,731,000 .00
12-Nov-12 AGB13 1113 365-day $7 .70 13-Nov-12 13-N ov-13 6.50% $93 .50 $7,236,900.00 3 $7,740,000.0 0
11-Sep-12 AGB11 0313 180-day $1 1.60 12-Sep-12 11-M ar-13 6.00% $97 .04 $11,249,003.83 13 $11,592,000 .00
21-Aug-12 AGB21 1112 91-day $15 .00 22-Aug-12 21-N ov-12 5.00% $98 .75 $14,813,013.68 18 $18,668,000 .00
6-Jul-12 AGB050 113 180-day $7. 09 9-Jul-12 5-Jan -13 6.00% $97.0 4 $6,879,243.29 8 $7,089,000.0 0
14-Jun-12 AGB12 1212 180-day $1 5.00 15-Jun-12 12-D ec-12 5.00% $97 .54 $14,630,136.98 17 $19,235,000 .00
Total $73.09 $70,451,78 2.78 73 $81,055,000 .00

**Shad** » 2012-12-02 16:52

The information was copied directlt from www.ecseonline.com and was available in table form but was scrabled somewhat when pasted. Anyone can go there and access the information.

**skyewill** » 2012-12-01 21:03

When you don't know you just don't know and that is what they are counting on. Did you know that with all the crying about global crisis, more money have been made and more millionaires have been made in the last ten years than all the past years in world history put together? Do you think money just dry up into thin air? Where do you think all that money went? into somebody's pockets

**skyewill** » 2012-12-01 20:56

It is not revenue. it is a bond. a bond is a form of borrowing. its normally issued to raise money that is gauranteed to be paid back in a certain time with interest. Key word in Gauranteed. Revenue is when you make money and it yields a profit.

**John French II** » 2012-12-01 18:14

Notes From A Native Son Of The Rock! Excellent Work. It would be most helpful to us of the "Bewildered & Bemused Electorate" if you could reformat the dates 301112 and Dollar amts in Millions viz: 15.6M.
That you have shown on 301112 after raising $15.6M GoAB will on 121212 be paying out $19.2M is most valuable and will cause many who are not trained in Managerial Finance to readily appreciate your comments and GoAB's Financial Management Operations or is it GoAB Debt Management.
Tenman maybe able to lend his assistance in getting your excellent data in an Excel spread sheet or Access Database format to fit the Comment Window.
Your well researched work is most informative and helpful. It suggests an extraordinary talent for vision, creativity, action, ethics and values communicated with self-confidence . All necessary intellectual and cognitive competencies for a good and successful leader.
Go Well! Much Respect!

**brutusmaximuswayne** » 2012-12-01 16:35

...second to last paragraph what gaston browne says! He's speculating! Don't trust him because he's an embelishes very often - but remember world markets were very liquid and was bouncing all over the place *(most markets were not doing too good) earlier in the year: ie: hongkong/new york stock exchange/englan d's futse etc. *(still thinks gaston browne is a snake/ opportunist when he did his acrobatics in acquiring lands at peppercorn prices lands in national parks environs on the eve of the 2004 elections!) :)

**tenman** » 2012-12-01 15:27

brutusmaximuswa yne, again you are proving yourself to lack knowledge, the bond issue, in July 2011 was under subscribed see http://www.caribarena.com/antigua/news/economy/98049-investors-have-no-confidence-in-govt-bonds.html). In addition take the time and learn that issuing debt is not raising revenue. If revenue and debt were the same thing then companies would not go bankrupt. It would mean that our government would have no need to be concerned about its debt to GDP ratio.

..

**Ponzi scheme 2** » 2012-12-01 13:50

It is clear that GOAB is running a Ponzi scheme that is spiralling out of control. on December 12th 2012 they are required to repay $19,235,000.00 in T bills. They keep borrowing to repay and the gap widens with each auction. Just like with Social Security the day of rekoning is fast approaching.

**Ponzi scheme** » 2012-12-01 13:49

Issuer: GOV'T OF ANTIGUA AND BARBUDA

Auction
Date Trading Symbol Term Issue Amount

($Mil)
Issue Date Maturity Date Yield (Coupon Rate) Price Per $ 100 Issue Value No. Of Bids Total Bid Amount
30-Nov-12 AGB031213 365-day $16.7 03-Dec-12 03-Dec-12 6.50% $93.50 $15,643,485.00 14 $16,731,000.00
12-Nov-12 AGB131113 365-day $7.70 13-Nov-12 13-Nov-13 6.50% $93.50 $7,236,900.00 3 $7,740,000.00
11-Sep-12 AGB110313 180-day $11.6 12-Sep-12 11-Mar-13 6.00% $97.041 $11,249,003.83 13 $11,592,000.00
21-Aug-12 AGB211112 91-day $15.0 22-Aug-12
21-Nov-12
5.00% $98.753 $14,813,013.68 18 $18,668,000.00
06-Jul-12 AGB050113 180-day $7.089 09-Jul-12 05-Jan-13 6.00% $97.041 $6,879,243.29 8 $7,089,000.00
14-Jun-12 AGB121212 180-day $15.0 15-Jun-12 12-Dec-12 5.00% $97.539 $14,630,136.98 17 $19,235,000.00
Total $73.089 $70,451,782.78 73 $81,055,000.00

**brutusmaximuswayne** » 2012-12-01 13:41

hey tenman: Perhaps my friend - you need to re-read the article especially the first paragraph and the last paragraph.....I see nothing wrong with the government trying a revenue raising strategy and succeed in 99 % except earlier in the year when they didn't sell the entire portfolio but it's unpresidented in the history of antigua-barbuda ! FACT!! *(I read your analysis and you were somewhat long-winded and strayed off the point); anyway, good job done! but the best part is: the money is not stolen and stashed in some minister's hidden account like........>th e others!!! :)

**tenman** » 2012-12-01 11:55

brutusmaximuswa yne, if you took the time to read the CIP white paper done by operatives of this very government you would understand why the outlook is negative. The document can be found on the governments website. On page 6 it states:
Quote:

While the Government and people contend with the reality of economic stasis, traditional funding sources have virtually disappeared for countries such as Antigua and Barbuda ..

brutusmaximuswa yne, unless you have been keeping your head in the sand (which this comment won't change), its an open secret that the current government has used the stat. corps to purchase its bonds and bills. Persons will always be wary of congratulating the government because they have burned too often and even now there is no transparency on critical issues (No proper audits for central government and most of the stat corps. Those that exist are aged)

..

**brutusmaximuswayne** » 2012-12-01 11:17

.....all of you are like soldier crabs in a bucket! nothing positive to say???......mig ht as well logged off your computers! smh! maybe ya'll used to corruption so your priorities are mixed up in the head! smh!!!

**Observer** » 2012-12-01 08:12

I can bed anyone that if the system is transparant we would be surprise to see which of the statutory cash cows was forced to purchase these bonds as investments. I hope the government can live up to their obligation and pay them back when the time comes. And I hope some of this money is earmarked for Social Security.

**Piky Head** » 2012-12-01 07:58

So, does this means Gov. workers will be paid by Monday?

**DadliMan** » 2012-12-01 07:16

What isn't said in this article is that statutory bodies have practically been forced to invest in these worthless bonds - event though these statutory bodies know that the government have been defaulting on the interest payments.

This story lacks the benefits of good investigative journalism. Ask King Lyad if he has been staying current on the interest payments to the statutory bodies

**skyewill** » 2012-12-01 04:16

If you met your goals then that is an accomplishment. but it still just another high interest loan that have a deadline to pay back. Now put it ALL in SS

**True Colors** » 2012-12-01 03:56

High interest rate, short term loan, that's what Stanford was accused of, Lovell is running a poncy scheme, how does he expect to pay it back? , more borrowed money!! SEC needs to lock him up too. FSRC needs to investigate.
Ha ha ha yeah right, it's Antigua.

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