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Tag Archives: energy bond

ESLA pays GH¢500m interest to investors

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Managers of the ESLA bond, have paid an estimated 228 million cedis as first gross interest payments to investors who bought into the 7 year bond of the sixbillion cedis energy sector bond. The bond, which formed part of the first tranche of the issuance, attracted an interest rate of 19 percent. A statement from ESLA and copied to Citi ...

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Investor confidence influences ‘lower’ interest on 10yr energy bond

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Economists have attributed the relatively lower interest rates on the re-opened ten year energy bond to the relative stability in the Ghanaian economy. The managers of ESLA Plc, the entity mandated to raise money to settle the energy sector debts, yesterday had its ten year bond oversubscribed at an interest rate around 19 percent. This is below the target of ...

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10yr energy bond accrues 615 million cedis

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ESLA Plc, the entity mandated to raise money to pay the debts in Ghana’s energy sector has raised GH¢615,947,860 through its ten year bond that it reopened. The bond which was reopened on Monday (January 22, 2018) and closed on Wednesday (January 24, 2018), targeted between 100 and 130 million cedis from the market. Today’s amount is about six times ...

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ESLA Plc closes tap in of 10 yr bond today

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The Managers of ESLA Plc, the entity mandated to raise money to pay Ghana’s energy sector debts, are expected to close the re-opening of the 10 year bond, on Wednesday, January 24, 2018. ESLA Plc in November 2017, issued 7 and 10 year bonds to raise some 6 billion cedis to settle outstanding debts in the energy sector. The debt ...

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Finance Ministry dismisses Minority’s claims on energy bond

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The Ministry of Finance has reacted to what it describes as unsubstantiated claims by the Minority in Parliament over the energy bond. According to the Ministry, the arguments put forward by the side do not reflect the actual situation. The Minority on Wednesday held a press conference where it criticized the below 6 billion cedis yield of the bond. It ...

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Energy bond: Ghana Gas upbeat about repayment

Dr. Ben Asante, CEO of Ghana Gas

Institutions to benefit from proceeds of the energy bond are upbeat about the allocations to hit their accounts soon. One of such is the Ghana Gas Company which is owed by the VRA alone, to the tune of over 500 million dollars. The debt which is believed to have accumulated over a three year period has also made it difficult ...

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Energy bond unsuccessful after two tries

Ken Ofori-Atta - Finance Minister

ESLA Plc failed to meet the target for the first tranche of the bond after a second attempt. The managers of the bond  were seeking to raise 6 billion cedis under two separate bonds. But accrued a total of 4.69 billion cedis after it closed the auction last Friday. The 7-year bond received the targeted 2.4 billion cedis while the ...

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Energy bond auction ends today

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Government is expected to conclude the auctioning of the energy bond Friday, November 3, 2017; barring any last minute changes. Managers of the bond had to extend the auction for the bond after they failed to raise the 6 billion cedis expected. The 7 year bond made the 2.4 billion cedi mark after auctioning closed on Friday [October 27, 2017]. ...

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Govt fails to raise 6 billion cedis for energy bond

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Government failed to raise the 6 billion cedis for the energy bond it issued last week. Government was able to raise 3.4 billion cedis as at Friday, October 27, 2017. As a result, the managers of the bond have announced an extension of the auction for the 10 year bond by one more week. The 3.4 billion cedis so far ...

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Energy bond accrues GH¢ 2.2 bn so far

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The energy bond has accrued some 2.26 billion cedis so far. Citi Business News has gathered that the 7 year bond has accrued some 1.5 billion cedis while the 10 year bond has accrued about 760 million cedis. Some economists however believe the figure will increase by the close of today [Friday] when the auction is closed. Government is seeking ...

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