Tag: Eurobond
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$1bn 30 yr bond to support mortgage industry
Ghana’s maiden thirty year bond will be channeled into reducing the country’s rising housing deficit. This will also be achieved through the provision of mortgages and the completion of the government’s affordable housing unit projects. Finance Minister, Ken Ofori Atta disclosed this in an exclusive interview with Citi Business News after the issuance of Ghana’s…
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Eurobond: Ghana raises $2bn at lowest interest rates
Government secured more than it targeted for its Eurobond which was closed on Thursday, May 10, 2018, in London. The government was seeking to raise 750 million dollars. However upon completion, the Sovereign bond accrued 2 billion dollars from investors. The bond was in two categories; 10 and 30 year bonds respectively. The 10 year…
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Parliament approves govt’s $2.5 bn Eurobond
Parliament has approved government’s 2.5 billion dollar Eurobond to finance major government infrastructure. The proceeds of the bond are expected to finance the provision of capital expenditure captured in this year’s (2018) budget for sectors such as the health, roads & highways and railway. The Finance Minister, Ken Ofori Atta in the 2018 budget presentation…
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Ghana clears 2007 Eurobond
Ghana has cleared her first Eurobond issued in 2007. A former Finance Minister, Seth Terkper who confirmed this to Citi Business News said the government cleared the final installment of the bond on October 4, 2017. According to him, the government resorted to about 200 million dollars from proceeds from oil and previous bonds issued…
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Economists laud govt’s ‘no Eurobond plan’ for 2017
Some economists have lauded the government’s commitment not to issue any Eurobond this year. They explain that the development should give room to deal with the country’s ballooning debts. The Vice President, Dr. Mahamudu Bawumia has refuted assertions that the recent non-deal road show embarked on by a team of government officials is likely to…
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No Eurobond to be issued this year – Bawumia
Vice President Dr. Mahamudu Bawumia has stated that the NPP government will not issue any Eurobond and add unto the country’s debt burden. According to him, the government has resolved not to embark on any such move at least within this year. Speaking in an interview with the Head of Citi Business News desk, Vivian…
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Government’s cost of borrowing to decrease soon – Terkper
Government is optimistic its cost of borrowing on the international market will reduce as it realigns its fiscal policies and enhance financial discipline. Ghana’s cost of borrowing on the international market had gone up to about 10.25 percent until government recently issued its 5 year 750 million dollars Eurobond, at a coupon rate of 9.25…
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Low investor confidence reduced 5th Eurobond maturity
Some economists have strongly suggested that the lack of investor confidence in the Ghanaian economy, led to the reduced maturity period for government’s 750 million dollar Eurobond. According to a Senior Lecturer at the University of Ghana, Dr. Lord Mensah, the lack of trust in the Ghanaian economy led to a coupon rate of 9.25%.…
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3rd IMF tranche: Ghana presents data on energy sector
Government has disclosed it is working to present data on the country’s energy sector to the International Monetary Fund (IMF) which should lead to the release of the third tranche of the bailout funds. According to the Finance Ministry, the information has become necessary as the Fund considers the power sector as one of the…
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Issuing Eurobond with short term maturity strategic – Terkper
Finance Minister Seth Terkper, has justified the launch of Ghana’s fifth Eurobond at a high yield of 9.25 percent with a short maturity date. Ghana yesterday (September 8, 2016), issued its fifth Eurobond of 750 million dollars at a yield of 9.25 percent a few points lower than the last one which was at 10.75…