by Linda Straker

• 15 December auction was Grenada’s last Treasury Bill auction on the market for 2025
• 365-day Treasury Bill was oversubscribed by EC$10 million
• Grenada traditionally auctions its first securities on the market for any year in February

The 365-day Treasury Bill that Grenada auctioned on the Regional Government Securities Market was oversubscribed by EC$10 million according to a report of the Eastern Caribbean Securities Exchange (ECSE).

“On the Regional Government Securities Market, the Government of Grenada’s 365-day Treasury bill, auctioned on the ECSE’s primary market platform, raised $20 million. The competitive uniform price methodology used, resulted in a discount rate of 4.76190%,” said the report.

The 365-day Treasury Bill was initially set to raise EC$10 million and was scheduled to be offered at a maximum rate of 5.0%. The 15 December auction was Grenada’s last Treasury Bill auction on the market for 2025. According to the 2025 prospectus for the market, Grenada raised more than EC$110 million on the market through 7 auctions throughout the years.

There were four 91-day Treasury Bills and three 365-day Treasury Bills. Money raised on the securities market is used to refinance its existing Treasury bills and Treasury notes currently on the market. Treasury bills are issued as part of the Government’s Debt Management Strategy to lower the cost of the Government’s borrowing by reducing reliance on the overdraft facility.

Yields from the investment are not subject to any tax, duty, or levy by the Participating Governments of the Eastern Caribbean Currency Union (ECCU). The 2026 prospectus will be published soon. Grenada traditionally auctions its first securities on the market for any year in February.

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