The Bank of Ghana (BoG) will on Thursday 22 October, 2015 issue a 1.5 million cedi 3 year fixed rate bond.
[contextly_sidebar id=”1RoWqW6ivzXCuMGy4dUSPtbUqWj78Cr8″]The auction comes a couple of days after government issued a 1 billion dollar Eurobond at a coupon rate of 10.75 percent.
The instrument which is Ghana cedi denominated, will be issued at par.
The bond will bear a coupon rate equal to the highest competitive bid accepted at the auction for the security.
Proceeds from the bond will be used to restructure Government of Ghana debt and for maturity settlement.
The 3 year fixed rate bond is available to both resident and non-resident investors.
Settlement of the bond will take place on 26th October, 2015.
The security will be listed o the Ghana Stock Exchange (GSE) for secondary market trading both at the floor of the Exchange or over the counter.
By: Vivian Kai Lokko/citifmonline.com/Ghana