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3 year bond oversubscribed

May 30, 2014
Reading Time: 1 min read
Business and consumer confidence drop over utility and fuel price hikes
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The three year bond issued by government yesterday was heavily oversubscribed.

Proceeds from the bond will be used to roll-over maturing debts.

This is the third in a series of bonds planned for this year.

The bond was open to offshore investors.

Government was looking at raising GH¢300 million through the bond auction but there was a total of 626.02 million cedis worth of bids tendered.

Ghana accepted 372.55 million cedis worth of bids and paid a slightly lower yield of 24.44 percent.

By:  Vivian Kai Mensah/citifmonline.com/Ghana

 

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