Government accepted all bids for the 2-year bond issuance, raising GHS768 million.
This comes after achieving more than half of its target from a similar bond issued last month.
However, the interest rate of the debt instrument remained same as last month’s auctioning, at 18.50%.
Analysts believe the interest rate was in line with current secondary market conditions.
Joy Business gathers majority of the funds would be used to settle maturing debt, whilst the remaining will be used to support government’s critical financing.
A book-building approach was adopted, indicating a pricing guideline was set before the bond was floated.
Absa, Databank, Fidelity, IC Securities, Stanbic were the book runners.
Since the emergence of the coronavirus pandemic, the government has been accepting all bids for bonds issued so far.
Government had exceeded its weekly Treasury bills sale last Friday, oversubscribing by more than 10%.
October 2nd bond sale.
During the sale of the 2-year bond last month, the Government of Ghana raised GHS1.53 billion cedis as against a target of one billion cedis.
The interest rate or yield was 18.50%.
Latest Stories
-
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
2 hours -
King Charles to resume public duties after progress in cancer treatment
2 hours -
Arda Guler scores on first start in La Liga as Madrid beat Real Sociedad
2 hours -
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
3 hours -
Anticipation builds as Junior Speller hosts nationwide auditions
3 hours -
Etse Sikanku: The driver’s mate conundrum
4 hours -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
4 hours -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
4 hours -
We have enough funds to pay accruing benefits; we’ve never missed pension payments since 1991 – SSNIT
4 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
5 hours -
Liverpool agree compensation deal with Feyenoord for Slot
5 hours -
Ejisu by-election: There’s no evidence of NPP engaging in vote-buying – Ahiagbah
5 hours -
Ejisu by-election: Independent ex-NPP MP’s campaign team warns party against dubious tactics
6 hours -
ZEN Petroleum supports Tse-Addo Future Leaders School
6 hours -
NPP must win back Adentan seat in 2024 polls – Obeng Fosu
7 hours