Cedi
Cedi

The instrument which is opened to both local and over?seas investors will be issued at par.

Cedi
Cedi

Information posted on the website of BoG said the bond would be redeemed by the issuer on October 25, 2018.
According to the Central Bank, the instrument will bear a coupon rate equal to the highest competitive bid accepted at the auction for the security.

The coupon rate will subsequently be carried out throughout the term of the security.
The minimum bid however will be ?50,000 and mul?tiples of ?1,000 thereafter.

The Finder gathered that the issuance of the debt instru?ment has become necessary because of the government’s financial situation whilst some of the funds raised would be used to settle maturing debts and fund some capital proj?ects.

Already, the International Monetary Fund has predicted that Ghana’s public debt stock will hit 72 percent of GDP, about ?83 billion by December 31, 2015.

Government’s borrowing spree also continued on the domestic market as it borrowed ?125.2 million in treas?ury notes alone from the domestic bond market between July 6 and September 14, 2015.

Out of this, 79.6 million which was the biggest was issued on September 11, 2015 ?32 million and ?5 million issued on July 24, 2015 and August 28, 2015 re?spectively followed suit.

The yield for the 2-year notes was however 23 percent, higher than the previous 22.5 percent.

Source : The Finder

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