Government of Ghana raises GH¢705.15 million in a three-year domestic bond

Government of Ghana raised successfully 705.15 million Ghana cedis or 163.60 million US Dollars (4.31 Ghana cedis = 1 US Dollar) in a three year domestic bond, transaction advisors said here late Thursday.

The Three-Year GhanaCedi Denominated Treasury Bond numbered GOG-BD-01/06/20-A4476-1540 which was issued here on Thursday is part of government efforts to extend the maturity of some of its debts that are getting due while reducing the yield on the bulk of the debts to lessen the Interest Payment burdens on the national budget.

According to the closing documents from Barclays Bank, Stanbic Bank and Strategic African Securities (SSA) the Transaction Advisors although total bids received amounted to 739,35 million cedis or 171. 54 million dollars, government accepted the equivalent of 163.60 million dollars at a coupon rate of 18.50 percent.

Government has since 2015 adopted the Book-Building approach to issuing its treasury bonds with leading financial and investment institutions acting as transaction advisors.

Although the Issue Date was Thursday,(June 1, 2017) , Monday, (June 5 2017) has been slated for settlement and will be listed on the Ghana Stock Exchange (GSE) subsequently.

Source: Justice Lee Adoboe

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