Tag: bond
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COCOBOD seeks US$2billion bond to clear ‘legacy’ debts
The Ghana Cocoa Board (COCOBOD) has disclosed its long term plan to issue a bond to correct the books of the company. The industry regulator believes the move should help it renew confidence amongst its lenders and sustain its role in developing Ghana’s cocoa sector. The bond is expected to raise about 2 billion dollars…
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Investors to ditch Ghana over calls to remove Minister
An Investment Banker, Mahama Iddrisu has told Citi Business News calls for the resignation of Finance Minister, Ken Ofori-Atta might cause investors to boycott investment decisions to Ghana going forward. He argued that the move is also likely to affect subscription of the country’s bonds expected to be issued in the first quarter of this year…
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Govt to issue 3 year domestic bond
Government has announced it will issue a three year domestic bond. It is unclear how much government intends to raise and what it intends to use the proceeds for. The bond will be issued via the book building format and opened to resident and non-resident investors. According to the statement from the Bank of Ghana,…
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Ghana to pay 18.75 % interest on first 5 year bond in 2017
Ghana accepted 369.47 million cedis ($84.7 million) worth of bids for the country’s first five-year domestic bond issued on Thursday, January 26, 2017. Citi Business News understands total bids subscribed amounted to 420.14 million cedis. The rate for the bond is 18.75 percent. The cash will be used rollover forecast maturities, meet government’s financing requirements…
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Seth Terkper presses local investors to buy $100m bond
Information gathered by Citi Business News indicates that government has commenced meetings with local investors as it prepares to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday (September 16, 2016), to convince them invest in government’s upcoming $100 million bond this month. The bond,…