| Business 
[ 2017-01-27 ] 
Ghana to pay 18.75 % interest on first 5 year bond in 2017 Ghana accepted 369.47 million cedis ($84.7
million) worth of bids for the country’s first
five-year domestic bond issued on Thursday,
January 26, 2017.
Citi Business News understands total bids
subscribed amounted to 420.14 million cedis.
The rate for the bond is 18.75 percent.
The cash will be used rollover forecast
maturities, meet government’s financing
requirements and build buffers for liability
management.
Participation was open to both resident and
foreign investors.
The five year bond forms part of the
government’s 17.4 billion cedis ($4.1 billion)
worth of domestic instruments to be issued between
January and March.
Lead brokers for the issue were Barclays Bank
Ghana, Stanbic Ghana and Strategic African
Securities.
The issue was conducted by the book building
method on the Ghana Stock Exchange.
Government is expected to issue a 700 million cedi
3 year bond in February 2017. Source - citibsinessnews.com

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