Audio By Carbonatix
For the first time in recent bond sales, the Government of Ghana achieved more than half of its target from the 2-year bond issuance yesterday.
According to the trading results, government raised GHS1.53 billion cedis as against a target of one billion cedis.
The interest rate or yield of 18.50 percent was also in line with the secondary market levels.
Joy Business learnt majority of the funds would be used to settle maturing debt, whilst the remaining will be used to support government’s financing.
A book-building approach was adopted, indicating a pricing guideline was set before the bond was floated.
Government had also exceeded its weekly Treasury bills sale last Friday, the first time in several weeks.
Last bond sale
During the sale of the 3-year bond last month, the Government of Ghana accepted all the GHS823.64 million bids.
The interest rate of the debt instrument which would be paid semi-annually till maturity was 19.0%.
Since the emergence of the coronavirus pandemic, the government has been accepting all bids for bonds issued so far.
Latest Stories
-
Creative Canvas 2025: Documenting Ghana’s creative year beyond the noise
2 hours -
Alhassan Suhuyini makes Christmas donations to churches within Tamale North Constituency
6 hours -
Meet 81-year-old father of UCC Acting Vice-Chancellor, who recently graduated with an MBA
6 hours -
Did you know that Ken Ofori-Atta’s lawyer, Enayat Qasimi, is the ‘Ken Ofori-Atta of Afghanistan? – Kay Codjoe writes
6 hours -
Kidnap suspect arrested in Tamale as Police rescue victim after four days
7 hours -
Tema Oil Refinery resumes crude refining after years of shutdown
7 hours -
Kojo Antwi thrills fans with regal entry, marathon performance at ‘Antwified’ concert
7 hours -
Ofori Amponsah surprises KiDi at ‘Likor On The Beach’ 2025
7 hours -
Joy FM thanks sponsors, partners and patrons after spectacular 2025 Family Party-in-the-Park
7 hours -
‘Christmas babies’ and their mothers in Volta and Oti regions receive MTN hampers
8 hours -
One dead, another injured after accident at Atwedie
8 hours -
Maggi Waakye Summit draws thousands as Ghana’s biggest waakye festival returns
9 hours -
Western Regional Minister urges Ghanaians to use Christmas to deepen national cohesion  Â
10 hours -
Thousands turn Aburi Gardens into a festive paradise at Joy FM’s Party in the Park
10 hours -
Source of GOLDBOD’s trading funds questioned amid reported $214m loss
10 hours