bond

Government of Ghana on Thursday successfully raised 221.4 million U.S. dollars in a three-year domestic U.S. dollar denominated bond, lead arrangers have said in a statement.

The bond, the second dollar denominated bond issued by Ghana since October 2016, would be cleared at a yield of 6.25 percent, according to lead arrangers Stanbic Bank, Barclays Bank and Strategic African Securities (SAS).

Proceeds are expected to be spent on supporting the government’s budget as Ghana gradually seeks to shift focus to domestic rather than offshore markets for financing portions of it’s budget.

The West African country, which is emerging from a financial crisis, has been seeking ways of borrowing that would not affect its debt sustainability. Enditem

Source: Xinhua/NewsGhana.com.gh

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