The government of Ghana has issued 3 billion dollars Eurobond which will mature over three periods of time.
The three tranches will mature at a period of seven years with 8.75% coupon rate, 12 years with 8.125% coupon rate and 31 years with 8.95% coupon rate.
Pulse.com.gh reports that the bond was the highest ever for an African sovereign nation, as it was oversubscribed by 7 times more.
READ ALSO: Akufo-Addo singles out dependence on imports as cause of rising cedi
Earlier this week, the finance minister led a government delegation on a roadshow in the United Kingdom and United States of America.
The delegation comprised officials from the Bank of Ghana and the ministry of finance.
Officials of the ministry of finance and the government will use $2 billion to support infrastructure development in the 2019 budget, while the remaining $1 billion dollars will be used to retire some maturing debts.
A Ghanaian economist, Professor Godfred Bokpin, said the coupon rate of the bond was fairly good.
He stated that investors could have demanded more but for the good fundamentals of the economy.
PAY ATTENTION: 12 Times Celebs Flaunted Their Mind blowing Wealth on Instagram
Ghana Nti: I Can't think far about the capacity of Ghana's police service | #Yencomgh
Use the comments section below to share your views on this story. Do you have a story to share or you have information for us? Get featured on YEN.com.gh. Message us on Facebook or Instagram