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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
