Gov’t accepts GHS849m for 3-yr bond
Business
Finance Minister Ken Ofori-Atta
The government of Ghana accepted all bids submitted for the 3-year bond auctioned on Thursday, 16 April 2020.
According to the results, the government accepted all the GHS849.24 million total bids submitted for the debt instrument which will mature in 2023.
The initial pricing guidance was between 18.50% and 19.00%.
But the clearing coupon rate is estimated at 19.00%.
Class Business understands that the majority of the funds raised will be used to settle maturing debt.
The instrument was opened to both resident and non-resident investors.
Each Bond has a face value of GHS1, whereas the minimum bid was GHS50,000 and multiples of GH1,000 thereafter.
Absa, Databank, Fidelity, IC Securities and Stanbic Bank were the joint book runners.
Source: classfmonline.com
Trending Business
Minority ‘exposes’ Finance Minister on misleading information in Mid-Year Budget presentation
13:35
Strip NPA of fund management duties -CEMSE and RMA demand
08:41
True value of a currency lies in its purchasing power, not exchange rate – Gideon Boako to Ato Forson
08:05
GRA Customs boss warns corrupt officials, vows to protect revenue integrity
05:02
Ghana receives 2,000 tons of Fertilisers from Morocco to boost agriculture
02:08
DVLA to go fully digital with sticker-only DP numbers at ports from August 1
15:21
DVLA partners SIC Insurance to introduce insurance cover for DP car plates
17:16
Fueling Africa’s future: How Rik Energy plans to penetrate West and East African markets
14:19
Ato Forson uncovers 14,000 ghost names on gov't payroll
11:43
IMF endorses measures announced in Mid-year Budget Review
07:23
