Government has announced it will issue a three year domestic bond. It is unclear how much government intends to raise and what it intends to use the proceeds for.
The bond will be issued via the book building format and opened to resident and non-resident investors.
According to the statement from the Bank of Ghana, on Thursday June 1st, “Books will close on short notice on Thursday 4pm as well as final pricing and allocation,â€
Settlement/issue date is Monday, 5th June, 2017. All successful bids will clear at a single clearing level but there shall be discretionary allocation at the single clearing level in the event of over subscription.
Each bond shall have a face value of one Ghana cedi with minimum bids valued at 50 thousand and multiples of 1 thousand cedis thereafter.
The proceeds of the bond will be listed on the Ghana Stock Exchange. The active bookrunners are Barclays, Strategic African Securities and Stanbic.
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Credit: citibusinessnews