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Gov’t raises GHS1.99bn bond at 16.5%

Ghana Cedi

Government has raised a total of 1.99 billion cedis in a five-year domestic bond at a yield of 16.5 percent, Citi Business News has gathered.

The initial guidance for the bond, open to non-resident Ghanaians, was in the range of 15 percent to 16.5 percent.

The total bids tendered were 2.01 billion cedis but government accepted 1.99 billion cedis . Settlement of the bond will mature on 2023.

The bookrunners were Barclays Bank Ghana, Stanbic Ghana, Fidelity Bank, Databank and brokerage firm IC securities.

A scheduled table released by the Finance Minister through the central bank early this year stated that government plans to issue a total of 11.13 billion cedis in the first three months of this year.

Of this amount, 8.96 million cedis are to be rollovers to restructure maturing debt.

By: citibusinessnews.com/Ghana

Ghana Business News