The Ministry of Finance says it received 188 bids valued at $28.38 billion for its fixed rate 10?nchmark investment note, while the total amount it required was only $4 billion.
This represented an oversubscription of seven times.
Only 48 of the 188 bids were successful and the highest bid was for a $1 billion at a rate of 10% per year.
The lowest lowest bid was for $200 million at a rate of 6.14% per year.
The government is seeking to raise some $191 billion or 5.8% of nominal GDP to help fund this year's $1.38 trillion budget.
Nominal GDP or GDP before adjustment for consumer and producer inflation was originally programmed at $3.289 trillion before Hurricane Beryl.
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