The Government has raised almost $11.6 billion from its recent offer of a 21 per cent investment debenture which was placed on the market to help finance its budgetary requirements.
In a release last week, the Ministry of Finance and Planning said investors pumped in $11.595 billion in the unlimited offer, which will run for a year and a half or until July 19, 2002.
The subscription period ran from January 11 to 19.
Principal will be repaid in two instalments on October 19, 2001 and at maturity on July 19, 2002. The first interest will become due and payable on April 19, this year, and quarterly thereafter with the final payment on the maturity date.
The Ministry said total debentures outstanding at January 22 was almost $36 billion.
