bond

The government of Ghana raised 1.49 billion Ghana cedis (341 million U.S. dollars) in a five-year domestic bond here on Thursday, transaction advisers have disclosed.

At the close of transactions, late Thursday, offers received totaled 1.71 billion cedis (399 million dollars).

The government, however, accepted the equivalent of 341 million dollars worth of the bids at a coupon rate of 18.25 percent, compared to the Initial Price Guidance of between 17.7 percent and 19 percent.

The Joint-Book-runners for this bond were Stanbic Bank, Barclays Bank and the Strategic African Securities (SAS).

The country’s total public debt rose to 137.2 billion Ghana cedis (about 31 billion dollars) in May 2017 from 122.6 billion cedis (27.6 billion dollars) at the end of 2016. Enditem

Source: Xinhua/Newsghana.com.gh