Antigua and Barbuda will auction a 365-day Treasury bill on Nov. 3, offering a maximum rate of 4.5%, according to the Eastern Caribbean Securities Exchange.

Bidding will open at 9 a.m. and close at noon on the exchange’s primary market platform, the ECSE said in its weekly report for the period ending Oct. 30.

The report did not disclose how much the government intends to raise through the auction.

Treasury bills are short-term securities through which governments borrow money from investors. The proposed Antigua and Barbuda issue carries a term of approximately one year.

The auction follows Grenada’s issuance of a 365-day Treasury bill, which raised $15 million during the reporting week at a discount rate of 2.91262%.

The ECSE said further information about available securities can be obtained through its website or a broker-dealer.

This article was originally published by Antigua News Room. Read the original article here: Antigua and Barbuda to auction Treasury bill at maximum rate of 4.5%.