Tenders are invited for the issue of Barbados Government Treasury Bills.
These Bills are being issued for a period of 91 and 182 days, and they will be issued on Wednesday, February 14, 2024. They will be payable at par on Wednesday, May 15, and Wednesday, August 14, 2024, respectively.
A non-competitive window has been introduced for individual bidders. This mechanism is optional and will allow individuals to submit a bid for the amount and tenor of Treasury Bills that they wish to purchase, without specifying a tender rate, that is, the amount which will be given for every $100 of the amount tendered.
The minimum bid amount is $1,000. Individuals who opt to utilise the non-competitive window may be allocated the amount tendered at a rate that is the average of the successful competitive bidders.
All other tenders, including individuals who chose not to utilise the non-competitive window, must be for an amount of not less than $1,000 and must specify the amount which will be given for every $100 of the amount tendered.
The average interest rates for the last issue were 2.52 per cent with an average tender rate of $99.38 for 91 days, and 1.28 per cent with an average tender rate of $99.36 for 182 days. Bills will be issued in denominations appropriate to the amount requested in the tender.
Application forms are available at the Treasury Department or online at https://treasury.gov.bb/content/forms.
When completed, forms should be emailed to treasury.bills@barbados.gov.bb or forwarded to the Treasury Department in sealed envelopes addressed; Confidential TREASURY BILL TENDER, The Accountant General, The Treasury Department, 1st Floor NHC Building, Country Road, St. Michael.
All applications must reach the Treasury by 1:30 p.m. on Thursday, February 8, 2024. Successful applicants will be notified by letter by Monday, February 12, 2024.