Govt set to issue 630m cedis bond Thursday

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Government will this week be turning to some local banks and foreign

investors to raise some 630 million cedis.

In that regard, the Bank of Ghana is expected to issue a three year

bond on behalf of government this Thursday May 21.

Government, according to sources, would be using proceeds from the

bond to restructure its debts and settle matured debts.

Industry watchers would be observing the subscription rate of this

particular bond after the last bond that government issued was

seriously undersubscribed.

Government was hoping to raise some 400 million Ghana cedis, however

government got just 168 million Ghana cedis.

But the Bank of Ghana, which sold the bonds forthe state took only 103

million cedis from investors.

The state earlier this year also paid 22.49 percent on bonds issued.

Credit: Joy Business

Kofi Oppong Kyekyeku

I am a Ghanaian Broadcast Journalist/Writer who has an interest in General News, Sports, Entertainment, Health, Lifestyle and many more.

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