Government will tomorrow [Wednesday, November 9, 2016] issue its first 10 year domestic bond as part of efforts to raise long term funds to support its capital expenditure.
[contextly_sidebar id=”lCGefPcJUyWTD1nFMVqyK4UodBoN5VMf”]Government is seeking to raise about 200 million cedis from the bond.
A statement on the issue said the deal will be opened to non-resident buyers, through a book-building transaction that will open tomorrow and close with final pricing on Thursday.
It added, each bond shall have a face value of one Ghana cedi.
Also, the minimum bid will be 50 thousand cedis and multiples of 1 thousand cedis thereafter.
All successful bids will clear at a single clearing level Pro rata allocation.
The lead arrangers for the issuance are Barclays Bank Ghana, Stanbic Ghana and Strategic African Securities.
The issuance also forms part of government’s revised calendar for August to December this year where it intends to raise 25.3 billion cedis.
Of the amount, 23.8 billion cedis is expected to be used to rollover forecast maturities with the remaining amount of 1.4 billion cedis being fresh issuance to meet government’s financing requirements.
–
By: Pius Amihere Eduku/citibusinessnews.com/Ghana