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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

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    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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Govt raises $94.62m from first local dollar denominated bond

bycitibusinessnews
October 14, 2016
in Banking And Finance, Government, Top Stories
Seth Terkper is Finance Minister.

Seth Terkper is Finance Minister.

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Government has raised a total of  94.62 million dollars in its first local dollar denominated bond  at a rate of 6.0 percent.

Total bids were 99.6 million dollars but government accepted 94.62 million dollars, above its original target of 50 million dollars.

By this, the cost of the bond is lower compared to government’s last Eurobond which was issued in September this year at a coupon rate of 9.25 percent.

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Finance Minister Seth Terkper had earlier explained to Citi Business News that the move is aimed at raising funds to finance the budget at cheaper rate as well as refinance more expensive domestic debt.

The bond is part of government’s revised time table to raise 25 billion cedis from August to December this year through bonds and treasury bills.

The announcement was a revised issuance calendar indicating government’s plan of borrow from August to December.

The report showed that about Gh¢24 billion of the funds raised will be used to clear previous bonds issued that are maturing, with the remaining going to support fresh commitments.

As part of the plans, a three-year bond will also be issued in November to raise GH¢700 million while government hopes to issue its first 10-year local bond of GH¢200 million.

According to government, the calendar aims at continuing the objective of lengthening the maturity profile by reducing short-term borrowing.

It adds that the 3, 5, and 10-year issues will be done per the calendar through the book-building method with settlement on the last Mondays of each month.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

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