This was contained in a notice issued by the Bank of Ghana (BoG), on Friday (June 19, 2020).

The government’s debt issuance calendar for June to August 2020, indicates that an amount of GHC800 million is expected to be issued once during the period.

Each bond which is issued shall have a face value of GHC1, with a minimum subscription of GHC50,000 and multiples of GHC1,000 thereafter. The offer will be opened to both local and foreign investors.

Initial pricing guidance for the issuance of the bonds through the Ghana Stock Exchange (GSE) will be on Tuesday (June 23, 2020). Afterward, the opening of the book-build at 9 am on Wednesday, June 24, 2020.

The books will be closed midday on Thursday, with the final pricing and allocation determined.

Successful bids will be cleared at a single clearing level.

But if the T-bond is oversubscribed there will be a discretionary allocation at the single clearing level. It is expected that investors will be settled or issued with the bonds on Monday (June 29, 2020).

The five-year bond would be issued through Absa, Databank, Stanbic Bank, Fidelity Bank, and IC Securities acting as book runners for the government.