Published On: Tue, Nov 11th, 2014

Central Bank to issue 30-yr 1.8% NAf. 30.7 million bond for Sint Maarten

Central BankWILLEMSTAD - The Central Bank of Curacao and Sint Maarten announced a new bond issue on behalf of the government of Sint Maarten over the weekend.

A press release dated November 7 said that on Friday, November 21, 2014, there will be a sinking bond issue on behalf of the country of Sint Maarten. The bond will have a semi-annual coupon of 1.80% with a duration of 30 years.

On November 13, 2014, the Dutch State Treasury Agency (DSTA) will be able to subscribe and up to November 14, 2014, 10:00 am, the general public will be able to subscribe to this bond issue at all commercial banks on Curacao 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, the Central Bank of Curaçao and Sint Maarten will publish the price of issue," the release said. "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."

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