Government secured GHS739.39 million in bids from investors in Thursday's 3-year bond auction but accepted GHS705 million.”‹
Government is expected to pay an interest of 18.50 percent on the bond.
It however not clear for now, how many foreign and local investors participated in the auction and how government intends to use proceeds of the bond.
That is whether it would be used to clear maturing debts or other projects outlined in this year’s budget. Settlement for the bonds would happen on Monday, June 5.
However analysts, fear the auction could lead to further increase in the debt stock which has hit GHS127 billion as at March 2017.
The Finance Ministry used the book building approach to issue this bond, which was jointly led by Barclays, Stanbic and SAS.
Latest Stories
-
Gold Fields Ghana Foundation challenges graduates to maximize benefits of community apprenticeship programme
34 mins -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
46 mins -
Boost for education as government commissions 80 projects
57 mins -
NAPO commissions library to honour Atta-Mills’ memory
1 hour -
OmniBSIC Bank champions health and wellness with thriving community walk
1 hour -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
1 hour -
NDC supports Dampare’s ‘no guns at polling stations’ directive
1 hour -
Police officer interdicted after video of assault goes viral
2 hours -
KNUST’s Prof. Reginald Annan named first African recipient of World Cancer Research Fund
2 hours -
George Twum-Barimah-Adu pledges inclusive cabinet with Minority and Majority leaders
2 hours -
Labourer jailed 5 years for inflicting cutlass wounds on businessman
2 hours -
Parliament urged to fast-track passage of Road Traffic Amendment Bill
2 hours -
Mr Daniel Kofi Asante aka Electrician
2 hours -
Minerals Commission, Solidaridad unveils forum to tackle child labour in mining sector
2 hours -
Election 2024: Engagement with security services productive – NDC
3 hours