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Tag Archives: energy bond

Energy bond accrues GH¢ 2.2 bn so far

bond

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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Govt to pay 17-19% interest on energy bond

Ken Ofori-Atta - Finance Minister

Government may not be paying anything less than 17 percent in interest for the energy bond. At least this is the indication from managers of the bond following the announcement of their estimated interest rate for the energy bond. Lead managers of the bond, tell Citi Business News the target is also largely due to developments and investor appetite thus ...

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Banks to cut back lending to energy sector

Economist Dr. Lord Mensah

Banks are expected to tighten their lending to the energy sector soon. It will follow the repayment of the accumulated energy debt to the affected banks. Currently, bids are being accepted for the first tranche of the bond to raise 6 billion cedis. This is expected to close by Friday, October 27, 2017. But Economist at the University of Ghana ...

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Investor confidence for energy bond positive

dav

Lead managers of the energy bond have described as positive, investor confidence expressed at the road shows conducted ahead of the bond issuance. Government on Monday, October 23, 2017 concluded the two road shows for the energy bond to clear the 2.5billion dollar energy sector debt. The representatives of Fidelity Bank and Standard Chartered Bank; the lead managers for the ...

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Govt projects ‘higher’ interest rates for energy bond

Ken Ofori-Atta - Finance Minister

Government may be targeting at least 19 percent interest rate on the energy bond to be issued to clear the debts in the energy sector. Citi Business News understands this is relatively higher compared to the estimated 18 percent rate on the ten year domestic bond. Sources close to the bond issue also indicate that the corporate nature of the ...

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Ghana, IMF yet to decide on mode for energy bond

bond

The International Monetary Fund (IMF) is yet to reach an agreement with the government of Ghana on the mode of issuing the energy bond. Sources close to the matter tell Citi Business News that a final decision is likely to be made next week. The government is currently on a road show in London ahead of the issue of the ...

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Roadshow for GH¢10bn energy bond starts today

Charles Adu Boahen - Deputy Finance Minister

Government will today (October 19, 2017) embark on a roadshow for the energy sector bond to be used to clear the energy sector debt. Today’s roadshow, to be carried out in London, is the first of two roadshows to be conducted ahead of the issuing of the bond.. The bond is also expected to be issued in tranches with the ...

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Govt to issue energy bond in tranches

Ken Ofori Atta - Finance Minister

Government has disclosed it is considering to issue its energy bond in batches of two or three. Citi Business News understands this may be the case as it will attract relatively lower yields and reduce the debt repayment burden. The decision to avoid a wholesale issuing of the estimated 10 billion cedis or 2.5 billion dollar bond, according to Deputy ...

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Govt hastens to clear $ 2.4bn energy debt

gridco,vra

Government should by the end of this month commence the repayment of all debts owed in the energy sector and improve operations in the sector. This will follow the successful issue of the 15 year energy bond to raise 10 billion cedis from its investors. The Finance Minister, Ken Ofori Atta who disclosed this to Citi Business News stated that ...

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Gov’t woos foreign investors for its $ 2.4 bn energy sector bond

gridco,vra

Foreign investors have shown interest to buy government’s 2.4 billion dollar energy sector bond. Citi Business News understands this is the response following an international road show by the transaction managers for the energy sector bond. The Deputy Energy Minister in charge of Finance, Joseph Cudjoe who disclosed this to Citi Business News explained that the move is expected to ...

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