Government’s 1.5 billion cedi 3 year fixed rate bond issued yesterday 22nd October, 2015 was under subscribed.<\/p>\n
[contextly_sidebar id=”jY1RA0dS14XLLPQz2EvKKEzKS23pGxSf”]Government raised less than the targeted 1.5 billion cedis it was looking for on the local market.<\/p>\n
It sold 995 million cedis of the three year notes with a yield \u00a024.5 percent.<\/p>\n
Investors offered 1.3 billion cedis of bids with yields between 23 and 26 percent.<\/p>\n
The auction comes days after government issued a 1 billion dollar Eurobond at a coupon rate of 10.75 percent.<\/p>\n
The 3 year fixed rate bond which was available to both resident and non-resident investors was Ghana cedi denominated, and was issued at par.<\/p>\n
Proceeds from the bond will be used to restructure Government of Ghana debt and for maturity settlement.<\/p>\n
Earlier the Group CEO of Ideal Finance, Dr Nii Kotei Dzani warned the auctioning of the bond will expose the economy to further risks.<\/p>\n
According to Dr. Nii Kotei Dzani government must as a matter of urgency desist from borrowing from the domestic market as that has contributed to the high unemployment in the country.<\/p>\n
Speaking to Citi Business News Dr Nii Kotei Dzani said the government should rather concentrate on increasing revenue.<\/p>\n
–<\/p>\n
By:\u00a0 Vivian Kai Lokko\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
Government’s 1.5 billion cedi 3 year fixed rate bond issued yesterday 22nd October, 2015 was under subscribed. [contextly_sidebar id=”jY1RA0dS14XLLPQz2EvKKEzKS23pGxSf”]Government raised less than the targeted 1.5 billion cedis it was looking for on the local market. It sold 995 million cedis of the three year notes with a yield \u00a024.5 percent. Investors offered 1.3 billion cedis […]<\/p>\n","protected":false},"author":14,"featured_media":52356,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[19],"tags":[4],"class_list":["post-161904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/161904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=161904"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/161904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/52356"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=161904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=161904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=161904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}