Central Bank to issue new NAf. 21M bond for Govt.

WILLEMSTAD/PHILIPSBURG–The Central Bank of Curaçao and St. Maarten (CBCS) will issue a sinking bond issue on behalf of the St. Maarten Government on Friday, August 25. The bond will have a semi-annual coupon for NAf. 21.7 million with a duration of 15 years.

The interest rate is based on the Dutch yield curve as of August 18. Interest rate as of August 4 is 0.866 per cent.

On Thursday, August 17, the Dutch State Treasury Agency (DSTA) will be able to subscribe, and after that up to Friday, August 18, 10:00am, the public will be able to subscribe to this bond issue at all commercial banks on Curaçao and St. Maarten.

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The 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, the Central Bank 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 August 7, subscription forms can be obtained free of charge at the commercial banks and can be downloaded from the website

www.centralbank.cw/government-loans.

Source: The Daily Herald https://www.thedailyherald.sx/islands/68264-central-bank-to-issue-new-naf-21m-bond-for-govt

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