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Govt Announces Treasury Bill Auction

Govt Announces Treasury Bill Auction Antigua St. John's - The Government of Antigua and Barbuda (GoAB) is launching its Treasury Bill Programme for 2013 with a first issue of $10 M on March 13.

According to a release, the 180-day Treasury Bill will be auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE).

In the event there is an oversubscription in the T-bill issue, the GoAB is willing to accept up to an additional $5 M of the amount.

The T-bill is being issued to refinance maturing RGSM securities and assist with the government’s short-term cash flow management requirements.The lead broker for the issues is First Citizens Investment Services Ltd St Lucia.

 A competitive uniform price auction methodology will be used with an offer rate of six percent. Interested investors may contact the licensed broker in Antigua and Barbuda, Antigua Barbuda Investment Bank Ltd or the Ministry of Finance at This email address is being protected from spambots. You need JavaScript enabled to view it. .



There was a less than desirable outcome in the earlier parts of November following a previous offering. However, Minister of Finance Harold Lovell eventually announced that his ministry had managed to convincingly oversell a second issue of Treasury Bills on the Regional Government Securities Market by more than $5 million.

The first November T-bill was issued on November 13, 2012 with a target of US$12million. But the issue only attracted US$7.74million; creating a notable shortfall that the government had hoped to recover in the second issue.

The government said then that the issue was part of its ongoing Treasury Bill programme, and the proceeds would be used in the Ministry of Finance’s continuing liability management efforts to retire expensive debt, and as part of the Treasury’s cash flow management requirements.


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12 Comments In This Article   

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#12 Guru » 2013-03-14 21:17

Issuer: GOV'T OF ANTIGUA AND BARBUDA

Auction Trading Symbol Term Iss ue Amount Issue Date Maturity Date Yield (Coupon Rate) Price Per $ 100 Issue Value No. Of Bids Total Bid Amount
Date ($Mil)
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
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Guru

Oustanding pt 3

#11 Guru » 2013-03-14 21:02

USD RGSM Issue Date: 26 July 2006 Original Amount Issued: US$26,000,000 (EC$70,200,000) Outstanding Amount US$ 3,714,287 Type of Issue: RGSM USD Bond Maturity Date 26 July 2013
C. USD Private Placement
SERIES C Issue Date: 30 June 2011 Original Amount Issued: US$10, 000,000 (EC$27,000,000) Outstanding Amount: US$10,000,000 Type of Issue: USD Bond Maturity Date 30 June 2026
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Guru

Oustanding pt 2

#10 Guru » 2013-03-14 21:00

Treasury Bills
Issue Date: 12September2012 Original Amount Issued: EC$11,592,000 Outstanding Amount: EC$11,592,000 Type of Issue: RGSM180-day Treasury Bill Maturity Date: 11March2013
Issue Date: 12 November 2012 Original Amount Issued: EC$7,700,000 Outstanding Amount: EC$7,700,000 Type of Issue: RGSM365-day Treasury Bill Maturity Date: 13 November 2013

 
Issue Date 30 November 2012 Original Amount Issued: EC$16,700,000 Outstanding Amount: EC$16,700,000 Type of Issue: RGSM365-day Treasury Bill Maturity Date: 3 December 2013
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Guru

Oustanding

#9 Guru » 2013-03-14 20:58

]These are Antigua and Barbuda liabilities to date:
EC$ RGSM
SERIES A Issue Date: 28 July 2011 Original Amount Issued: EC$20,000,000 Outstanding Amount: EC$20,000,000 Type of Issue: RGSM EC$5-Year Bond Maturity Date: 28 July 2016
SERIES B Issue Date: 29 July 2011 Original Amount Issued: EC$5,530,000 Outstanding Amount: EC$5,530,000 Type of Issue: RGSM EC$10-Year Bond Maturity Date: 29 July 2021
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Guru

@ Big Mac & Godson

#8 skyewill » 2013-03-14 17:08

Yep, a ponzi scam just like the Social Security SCAM.
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skyewill

RE: Govt Announces Treasury Bill Auction

#7 Big Mac » 2013-03-14 15:21

just a other ponzi
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Big Mac

@Skyewill

#6 Godson » 2013-03-14 09:47

Didn't I mention this the other day? Caribarena please tell us if these bills have been rated by any credible agency(moody, S&P).

My opinion, if you buy these bonds issued by the GOAB then you should have no more expectation to get your money back than those greedy investors who bought Stanford's CDs.
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Godson

RE: Govt Announces Treasury Bill Auction

#5 Dig It » 2013-03-14 07:50

How many "T-Bills" programmes can the GOAB run, year-after-year , to help them with 'cash-flow?' They didn't meet 'target' last November, so there is no guarantees they will meet it this time on RGSM. My question is what happens after these T-Bills matured? Lord please have mercy on the people of A&B.
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Dig It

RE: Govt Announces Treasury Bill Auction

#4 ECHO » 2013-03-14 07:33

"However, Minister of Finance Harold Lovell eventually announced that his ministry had managed to convincingly oversell a second issue of Treasury Bills on the Regional Government Securities Market by more than $5 million". HAVE ANYBODY CHECKED TO SEE IF THIS STATEMENT IS REALLY FACTUAL? PLEASE ADVISE!!
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ECHO

RE: Govt Announces Treasury Bill Auction

#3 bjsm » 2013-03-14 06:36

ME NEVA SEE NOTHING LACKA DIS YA YET... UPP IN AH GOV FU LICKLESS LESS DAN 10 YRS AND KILL TREASURY... AT LEAST WEN LABOUR MIN IN DEY EH TEK 28 YRS FU DEM KILL UMM... WELL WELL ARU GOOD! ARU TALENTED! :-* :-* :-*
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bjsm

issued to refinance maturing RGSM securities and assist with the government’s short-term cash flow management requirements.

#2 skyewill » 2013-03-14 06:25

DEM LIE! they owe bill you won't believe, too many workers are not getting paid. too many broken contracts. Paying interest on interest late payment penalties on penalties. If you keep doing the same thing over and over and it is not working, Poo poo pan poo poo you end up with a big pile of CHIT" that only gets bigger. The island is officially bankrupt!
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skyewill

Investment Caution

#1 anuson » 2013-03-14 03:39

The United States of America has issued a caution against US citizens investing in Antigua and Barbuda. WOW! Read for yourself at www.travel.state.gov Select Antigua from the list of countries and read. It was a shocker to read that. Does anyone remember what the magic month was for all investors to show up at Antigua's door step after the 2004 victory by the UPP? The man that had his head on said October 2004 was the magic month. PM said prior to being elected that we have them lined up. They are just waiting on the government to change.
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anuson

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