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The Government of Barbados concluded its reverse auction on Series D successfully on March 8, 2024. The first of its kind, the auction received a high degree of interest from bondholders, with approximately 12 percent of the outstanding bonds offered for repurchase. Auction pricing was highly competitive with the Government accepting the lowest priced offers of up to $2.0 million. This auction was aligned with the Government’s goals to aid with the reduction of debt, assist with the creation of yield curve for new medium-to-long term securities, and support the gradual extension of maturities under the Government’s debt management program. Successful offers were settled on March 15, 2024.
The Government will embark on other liability management operations later in 2024, which will be larger and include other series. The Government will provide more information on this to all holders before the date.