[ 2016-11-08 ]

Government to raise GH¢200m in first 10 year local bond - See more at: http://ci
Government will tomorrow [Wednesday, November 9,
2016] issue its first 10 year domestic bond as
part of efforts to raise long term funds to
support its capital expenditure.

Government is seeking to raise about 200 million
cedis from the bond.

A statement on the issue said the deal will be
opened to non-resident buyers, through a
book-building transaction that will open tomorrow
and close with final pricing on Thursday. It
added, each bond shall have a face value of one
Ghana cedi.

Also, the minimum bid will be 50 thousand cedis
and multiples of 1 thousand cedis thereafter.

All successful bids will clear at a single
clearing level Pro rata allocation. The lead
arrangers for the issuance are Barclays Bank
Ghana, Stanbic Ghana and Strategic African
Securities.

The issuance also forms part of government’s
revised calendar for August to December this year
where it intends to raise 25.3 billion cedis.

Of the amount, 23.8 billion cedis is expected to
be used to rollover forecast maturities with the
remaining amount of 1.4 billion cedis being fresh
issuance to meet government’s financing
requirements.

Source - citibsinessnews.com

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