Economy Ghana’s GH¢44m 5-Yr Bond Oversubscribed

Government accepted 201.8 million cedis ($53.24 million) worth of bids and paid a yield of 21 percent in an oversubscribed five-year bond sale.

  • Published:
Seth Terkper, Minister of Finance and Economic Planning play

Seth Terkper, Minister of Finance and Economic Planning

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The Bank of Ghana has issued a GH¢ 440 million five-year domestic bond in a fresh bid to use longer term maturities to restructure its rising debt and finance some infrastructural projects.

The Bank revealed that it has received 201.8 million cedis ($53.24 million) worth of bids and also paid a dividend of 21 percent in an oversubscribed five-year bond sale.

The bank said a total of 610.37 million cedis worth of bids were tendered.

This was announced by the central bank Thursday.

The 440 million-cedi bond, open to offshore investors, was the second in a series of medium-term auctions planned for the first half of 2015 to roll-over maturing debts and increase government finances.

Open to offshore investors, the sale was the second in a series of medium-term auctions planned for the first half of 2015 to refinance maturing debt and boost government finances.

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