{"id":365829,"date":"2017-10-27T23:57:55","date_gmt":"2017-10-27T23:57:55","guid":{"rendered":"http:\/\/citifmonline.com\/?p=365829"},"modified":"2017-10-27T23:57:55","modified_gmt":"2017-10-27T23:57:55","slug":"govt-to-pay-19-on-7-year-energy-bond","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/10\/govt-to-pay-19-on-7-year-energy-bond\/","title":{"rendered":"Gov’t to pay 19% on 7-year energy bond"},"content":{"rendered":"
Government has accepted some 2.4 billion cedis for the seven-year bond it issued to clear the energy sector debt.<\/p>\n
This represents the first of two bonds issued to raise 6 billion cedis.<\/p>\n
A statement on the issue which was copied to Citi Business News<\/strong> indicated that the bond also attracted an interest rate of 19 percent.<\/p>\n Even though government was targeting 2.4 billion cedis, total bids received amounted to GH\u00a22,529,078,664 billion cedis. It however accepted GH\u00a22,408,626,000.<\/p>\n Proceeds of the bond will be listed on the Ghana Stock Exchange (GSE).<\/p>\n Settlement is expected to be concluded on 1st November, 2017.<\/p>\n The bond is expected to mature for repayment on 23rd October, 2024.<\/p>\n Meanwhile the managers of the energy bond have announced the extension of the auction for the 10 year energy bond by seven more days.<\/p>\n From the initial scheduled date; Friday 27th October, 2017, auction for the bids will now close on Friday, November 3rd, 2017.<\/p>\n This is the second time that the bids have been extended since it was opened on Tuesday, October 24, 2017.<\/p>\n The successful issuing of the bond is to raise money to pay accumulated debts owed banks and other fuel suppliers in the energy sector. <\/p>\n","protected":false},"excerpt":{"rendered":" Government has accepted some 2.4 billion cedis for the seven-year bond it issued to clear the energy sector debt. This represents the first of two bonds issued to raise 6 billion cedis. A statement on the issue which was copied to Citi Business News indicated that the bond also attracted an interest rate of 19 […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,11],"tags":[1568,3],"yoast_head":"\n
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\nBy: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n
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