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
-
Elevating Ghana’s creative industry: A blueprint for competing with Nigeria and South Africa
55 mins -
Poor finishing a problem for Asante Kotoko throughout the season – Prosper Ogum
1 hour -
Samini teams up with Francis Osei for ‘Sticks N Locks’ EP
1 hour -
Government should resource record labels – Seven Xavier
2 hours -
I need majority in parliament to successfully complete my term – Akufo-Addo pleads
2 hours -
Next NDC government will not recognise illegal contracts signed by current administration – Sammy Gyamfi
2 hours -
Premier League clubs vote in favour of spending cap plans
2 hours -
Nigeria’s fuel crisis brings businesses to a halt
2 hours -
King Promise impresses fans at sold out show in Singapore
2 hours -
Ejisu by-election to proceed after plaintiff withdraws injunction application
2 hours -
CSOs and NGOs unite to push for priority demands at INC-4
2 hours -
Fuel tanker bursts into flames on Kumasi-Accra highway
2 hours -
EC’s stolen BVR kits, laptops: One granted bail, three still on remand
3 hours -
2 Things: Sista Afia releases first song off her upcoming album
3 hours -
GHS to embark on COVID-19 vaccination campaign starting May 4
3 hours