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
-
Nitiwul calls for GPHA boss Paul Tanye-Kulono to step aside over cocaine probe
4 minutes -
Over 90 apprentices, master craftspersons in Wa East receive industrial tools under National Apprenticeship Programme
6 minutes -
SOL Energy, subsidiary of Star Oil, secures provisional BIDEC licence from NPA
7 minutes -
Six other people in custody as Ghana investigates drug trafficking through ports – Felix Kwakye Ofosu
7 minutes -
Suicide Prevention Awareness Month : Before another young Ghanaian says goodbye
14 minutes -
Revolutionizing education in Kenyasi No. 1: The visionary leadership of Nana Osei Kofi Abiri
27 minutes -
Climate-vulnerable countries spend nearly 25 times more on debt than climate action – ActionAid report
28 minutes -
Queen Mothers congratulate Ayariga, seek greater inclusion in traditional affairs
34 minutes -
Spring Agro CEO Siddharth Mohindroo wins Agriculture Award at Forty Under 40
42 minutes -
Serene Insurance wins three industry awards
59 minutes -
Dr Charity Binka charges media to inform, monitor and shape Affirmative Action implementation
1 hour -
Afarinick, Meiji deepen partnership to advance sustainable cocoa production
1 hour -
Ghana launches food warning label campaign as NCDs account for nearly 45% of deaths
1 hour -
Ashanti region records 25% drop in maternal mortality in first half of 2026
1 hour -
Ghana’s unemployment situation is ‘scary’ – NSA Ashanti regional Director
2 hours