Treasury Bill Issuance Announcement

This government notice announces the upcoming issuance of Treasury Bills by the Federation of St. Christopher and Nevis, providing details on how existing investors can re-tender their holdings and how new investors can participate. The notice serves as an official invitation for individuals and institutions to invest in these short-term government debt securities. It outlines the terms and conditions of the offering, including the various maturities, interest rates, and deadlines for submitting applications.

The government is offering three tranches of Treasury Bills: 91-day, 182-day, and 365-day maturities. Existing holders of these securities can re-invest in any of the three options. The 91-day T-bills carry a coupon rate of 3.75% per annum and mature on Tuesday, July 29th, 2025. The 182-day T-bills offer a slightly higher coupon rate of 3.85% per annum, also maturing on Tuesday, July 29th, 2025. Lastly, the 365-day T-bills have a coupon rate of 4.0% per annum and mature on Tuesday, August 13th, 2025. All Treasury Bills will be redeemed at their face value upon maturity.

In addition to allowing existing investors to roll over their holdings, the government is also accepting new applications for the 182-day and 365-day T-bills. This opportunity allows new investors to participate in the government’s debt market. The minimum investment for new applications is EC $10,000.00. This relatively accessible minimum investment amount aims to encourage broader participation from individuals and smaller institutions. The government is effectively offering two different investment horizons with varying degrees of return, catering to different investment strategies and risk appetites.

The notice emphasizes the importance of adhering to the specified deadlines. Existing investors wishing to modify their investments and new investors submitting applications must submit their requests to the Accountant General Chambers no later than 3:00 pm on Friday, July 11th, 2025. All submissions must be enclosed in sealed envelopes to maintain confidentiality. The government has established a clear process for submission to ensure transparency and fairness in the allocation of the Treasury Bills. The specified deadline allows the government sufficient time to process applications and allocate the securities accordingly.

The notice also provides clear instructions on how to apply. Application forms can be obtained from the Accountant General Chambers located on Central Street, Basseterre, St. Kitts. Completed applications, along with any necessary supporting documents, should be returned in sealed envelopes clearly marked “CONFIDENTIAL,” “Treasury Bills Tender,” and with the issue number (218) indicated. The envelope should be addressed to the Accountant General at the same address. This clear and concise instruction minimizes the chances of misdirected applications and ensures a smooth application process.

Successful applicants will be notified by mail no later than Wednesday, July 16th, 2025. This notification will confirm the allocation of Treasury Bills and provide further instructions regarding payment and settlement. The government reserves the right to accept or reject any tender in whole or in part. This clause protects the government’s interests and allows them to manage the issuance process effectively. Finally, the notice advises interested parties that the Treasury Bills Act, Cap 21.18, which provides the legal framework for these securities, is available for review at Government Headquarters. This ensures transparency and allows potential investors to fully understand the legal implications of investing in these securities. The notice, signed by the Accountant General, serves as an official government communication, assuring investors of the legitimacy of the offer.