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.
Ghana sells GH¢477.6m 10-year bond
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.
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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.
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