The Bank of Ghana (BoG) will today 22nd October, 2015 issue a 1.5 billion cedi 3 year fixed rate bond.<\/p>\n
[contextly_sidebar id=”mNTMf1nEN1oH6yXQ0AHduEIz0HPxvqlY”]The auction comes a couple of days after government issued a 1 billion dollar Eurobond at a coupon rate of 10.75 percent.<\/p>\n
The instrument which is Ghana cedi denominated, will be issued at par.<\/p>\n
The bond will bear a coupon rate equal to the highest competitive bid accepted at the auction for the security.<\/p>\n
Proceeds from the bond will be used to restructure Government of Ghana debt and for maturity settlement.<\/p>\n
The 3 year fixed rate bond will be\u00a0 available to both resident and non-resident investors and will be listed o the Ghana Stock Exchange (GSE) for secondary market trading both at the floor of the Exchange or over the counter.<\/p>\n
Meanwhile the Group CEO of Ideal Finance, Dr Nii Kotei Dzani has warned the auctioning of today’s 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":"
The Bank of Ghana (BoG) will today 22nd October, 2015 issue a 1.5 billion cedi 3 year fixed rate bond. [contextly_sidebar id=”mNTMf1nEN1oH6yXQ0AHduEIz0HPxvqlY”]The auction comes a couple of days after government issued a 1 billion dollar Eurobond at a coupon rate of 10.75 percent. The instrument which is Ghana cedi denominated, will be issued at par. […]<\/p>\n","protected":false},"author":14,"featured_media":37044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"\n