Audio By Carbonatix
Individual bondholders’ have now been included in the domestic debt exchange programme as the Government of Ghana has announced the further extension of the expiration date of its Domestic Debt Exchange to January 16, 2023.
The government also announced amendments to the terms of the domestic exchange programme.
Individual investors were initially not part of the domestic debt restructuring, but it appears the exemption of pension funds from the programme has triggered that.
A statement from the Finance Ministry indicated an expansion of investors in the debt exchange programme to now include individual investors.
"Expanding the type of investors that can participate in the Exchange to now include Individual Investors", it pointed out.
“In addition to the foregoing extensions, the government announces the following modifications to the Invitation to Exchange, which are set forth in further detail on the Term Sheet attached as Annex A to this press release”.
Offering accrued and unpaid interest on Eligible Bonds, and a cash tender fee payment to holders of Eligible Bonds maturing in 2023;
Increasing the New Bonds offered by adding eight new instruments to the composition of the New Bonds, for a total of 12 New Bonds, one maturing each year starting January 2027 and ending January 2038;
Modifying the Exchange Consideration Ratios for each New Bond. The Exchange Consideration Ratio applicable to Eligible Bonds maturing in 2023 will be different than for other Eligible Bonds;
Setting a non-binding target minimum level of overall participation of 80% of aggregate principal amount outstanding of Eligible Bonds; and
Expanding the type of investors that can participate in the Exchange to now include Individual Investors.
“These modifications will be set forth fully in an Amended and Restated Exchange Memorandum which is expected to be published during the week of 26th December 2022. Conforming changes (including adding and modifying defined terms) in respect of the above amendments and modifications to cure ambiguity, omission, defect, error or inconsistency may be included in the Amended and Restated Exchange Memorandum”, the statement added.
Latest Stories
-
Milo U13 Champs: Ahafo’s Adrobaa set for thrilling final with Franko International of Western North
2 hours -
Ghana’s HIV crisis: Stigma drives new infections as AIDS Commission bets on AI and six-month injectables
4 hours -
First Ladies unite in Accra to champion elimination of mother-to-child HIV, Syphilis, and Hepatitis B transmission
4 hours -
US Supreme Court agrees to hear case challenging birthright citizenship
5 hours -
Notorious Ashaiman robber arrested in joint police operation
5 hours -
Judge sets key dates after video evidence hurdle in Nana Agradaa appeal case
6 hours -
Who are favourites to win the 2026 World Cup?
6 hours -
Galamsey crisis spiritual, not just economic; Pulpit and policy intervention needed – Prof. Frimpong-Manso
6 hours -
We will come after you – Muntaka warns online fearmongers
7 hours -
Forestry office attack: Suspected gang leader arrested, two stolen cars recovered
7 hours -
How Asamoah Gyan reacted after Ghana was paired with England, Croatia, and Panama for the 2026 World Cup
8 hours -
Ghana Armed Forces opens 2025/2026 intake for military academy
8 hours -
Prime Insight: OSP vs. Kpebu and petitions to remove EC boss to dominate discussions this Saturday
8 hours -
Multimedia’s David Andoh selected among international journalists covering  PLANETech 2025 in Israel
10 hours -
Gov’t prioritising real action over slogans – Kwakye Ofosu
11 hours
