SINT MAARTEN (PHILIPSBURG) – On Friday, May 10, 2019, there will be a bond issue on behalf of the country of Sint Maarten, the Central Bank of Curacao and Sint Maarten (CBCS) announced on Tuesday.
The bond will have a semi-annual coupon as follows: § NAf 32.900.000 bond with duration of 30 years. Interest rate is based on the Dutch yield curve as of May 2, 2019. The yield as of April 8 for a 30-year loan was 0.69%.
The bond will have annual redemption starting on May 10, 2021. On Thursday, May 2, 2019, the Dutch State Treasury Agency (DSTA) will be able to subscribe, and after that up to Friday, May 3, 2019, 10:00 AM, the general public will be able to subscribe to this bond issue at all commercial banks in Curaçao and Sint Maarten.
Subscription will take place according to the tender system in which parties indicate for which amount and price they wish to participate in the loan, thereby revealing their desired yield. After the closing of the subscription, CBCS will publish the price of issue.
Parties that have subscribed for a higher price than the price of issue will receive full allocation. Parties that have subscribed at a price equal to the price of issue will receive the remaining amount of the issue.
As of April 12, 2019, subscription forms can be obtained free of charge at the commercial banks and can be downloaded from our website: https://www.centralbank.cw/government-loans.