Ghana sells GH¢477.6m 10-year bond

desmond frimpong 15:50 - 08 June 2018

The paper which matures in May 2028, had its initial pricing guidance set at 17.0 percent to 17.75 percent and settlement is slated for June 11.

According to transaction arrangers, the West African country Ghana has sold GH¢477.6 million worth of a fresh 10-year domestic currency bond and will pay a yield of 17.5 percent.

The issued bond which is opened to foreign investors, attracted offers worth GH¢523.2 million cedis, that is coming from Barclays Bank Ghana.

15-year bond

Earlier, Government raised more than GH¢3.4 billion in the country‘s first 15-year bond as well as GH¢1.4 billion in another seven-year government paper that was also closed.

The State is expected to pay investors who participated in the two bonds an interest of 19.75 percent.

Although government actually had GH¢3.427 billion worth of bids from investors, it but took GH¢3.422 billion with proceeds from the seven and 15-year bonds totaling almost GH¢5 billion.