Tag: energy bond
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Energy bond accrues GH¢ 2.2 bn so far
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…
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Govt to pay 17-19% interest on energy bond
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…
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Banks to cut back lending to energy sector
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…
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Investor confidence for energy bond positive
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;…
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Govt projects ‘higher’ interest rates for energy bond
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…
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Ghana, IMF yet to decide on mode for energy 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…
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Roadshow for GH¢10bn energy bond starts today
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…
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Govt to issue energy bond in tranches
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…
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Govt hastens to clear $ 2.4bn energy debt
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…
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Gov’t woos foreign investors for its $ 2.4 bn energy sector bond
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…