{"id":249464,"date":"2016-09-18T18:00:23","date_gmt":"2016-09-18T18:00:23","guid":{"rendered":"http:\/\/citifmonline.com\/?p=249464"},"modified":"2016-09-18T18:00:23","modified_gmt":"2016-09-18T18:00:23","slug":"terkper-meets-local-investors-on-first-dollar-denominated-bond","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/09\/terkper-meets-local-investors-on-first-dollar-denominated-bond\/","title":{"rendered":"Terkper meets local investors on first dollar denominated bond"},"content":{"rendered":"<p>Information gathered by <strong>Citi Business News<\/strong> indicates that government has commenced meetings with local investors to raise its first dollar denominated bond locally.<\/p>\n<p>The Finance Minister, Seth Terkper met the investors in Accra last Friday to convince them invest in government\u2019s upcoming $100 million bond this month.<\/p>\n<p>The bond, if successful will be used to restructure maturing \u00a0debts as\u00a0 well as \u00a0infrastructure development.<\/p>\n<p>Earlier this month, government announced that it plans raising about GH\u00a225 billion\u00a0through bonds and treasury bills for the rest of year.<\/p>\n<p>The announcement was a revised issuance calendar indicating government\u2019s plan of borrow from August to December.<\/p>\n<p>The report showed that\u00a0about Gh\u00a224 billion\u00a0of the funds raised will be used to clear previous bonds issued\u00a0that are maturing, with the remaining going to support fresh commitments.<\/p>\n<p>As part of the plans, a three-year bond\u00a0will also be issued in November to raise GH\u00a2700 million while it hopes to issue its first 10-year local bond of GH\u00a2200 million.<\/p>\n<p>According to government, the calendar\u00a0aims at continuing the objective of lengthening the maturity profile by reducing \u00a0short-term borrowing.<\/p>\n<p>It adds that\u00a0the 3, 5, and 10-year issues will be done per the calendar through the book-building method with settlement on the last Mondays of each month.<\/p>\n<p>The amount of GH\u00a2400.00 million for the 5-year bond in August 2016 will be raised through reopening of the existing 5-year bond (coupon of 24.75%) maturing July 19, 2021, with settlement on\u00a0August 29, 2016.<\/p>\n<p>The 5-year bond of GH\u00a21,000.00 million in September 2016 may be issued partly in a US\u00a0Dollar equivalent bond, with settlements on\u00a0September 12, 26, 2016 for the cedi and US dollar bonds, respectively.<\/p>\n<p>&#8211;<\/p>\n<p>By: Lawrence Segbefia\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Information gathered by Citi Business News indicates that government has commenced meetings with local investors to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday to convince them invest in government\u2019s upcoming $100 million bond this month. The bond, if successful will be used to [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":209488,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32,171],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Terkper meets local investors on first dollar denominated bond - Citi 97.3 FM - Relevant Radio. 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