Gov’t Secures GH¢1.57b In A 3-year Bond Sale

Government secured more than what it targeted in the three-year bond sale.  The governmment was expecting GH¢900 million but had GH¢1.575  billion.

Investors who bought into the offer would be paid an interest of 16.5 percent.

This is a little lower than what it paid investors that participated in last September’s three-year bond sale.  The settlement would be done on Monday, March 26.

The auction was done through the book building approach which brought together three banks and two finance houses to raise the funds.

he Government is hoping to use funds raised from this bond to finance some projects outlined in the 2018 budget.

It is not clear for now whether the proceeds from this bond would go a long way to stabilize the Ghana cedis, that is if most of the investors that participated came from outside the country.