Finance Ministry announces 5 year bonds

Finance Ministry announces 5 year bonds

- 5 year Republic of Ghana GHS denominated treasury bond issuance.

- The issuance calendar for the first half of 2016 was developed in line with the MTDS that specifies the aggregate amounts to be raised by instrument in the period. 

Finance Ministry announces 5 year bonds

The aggregate borrowing amount for the first half of 2016 is GHe30,730.00 million out of which forecast maturities is GHe27,779.00 million and net issuance is GHe2,951.00 million.

The Ministry of Finance has announced plans to issue a 5 year cedi denominated bonds on March 8.

The bonds are expected to be issued by the Bank of Ghana on behalf of the government and would be listed on the Ghana Stock Exchange.

The treasury bonds would be open to both resident and non resident investors.

Each Bond shall have a face value of one Ghana Cedi, with a minimum bid of GhC50,000 and multiples of GHC 1,000 thereafter.

The Active Joint Book runners include Barclays Bank, Strategic African Securities and Stanbic bank.

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The Issue methodology for the bonds to be issued next month would be the book-build format with bids to be accepted on a yield basis.

According to the statement from the Finance Ministry all successful bids will clear at a single clearing level pro rata allocation.

An aggregate amount  to be raised by the ministry's issuance calendar for the 1st half of 2016  would be in excess of 30 billion cedis.


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