The government will raise ¢1.42 billion to refinance Treasury bill maturities worth ¢1.31 billion across the 91-day and 182-day bills on Friday February 3, 2023.
This is coming after it successfully achieved 60% oversubscription of the sale of the treasury securities on Friday, January 27, 2023.
With the relatively small offer size, analysts and market watchers expect the government to meet its target.
The government made significant step last week on the Domestic Debt Exchange Programme (DDEP) after some key stakeholders agreed to some terms of the DDEP, including payment of a 5% coupon rate on the new bonds in 2023. The amended terms also included the removal of clauses in the exchange memorandum that empowers the government to vary the terms of exchange.
Analysts believe that the improved terms may garner more investor buy-in to the DDEP.
The government on Friday, January 27, 2023, raised ¢1.98 billion out of total bids of ¢2.05 billion.
The bids tendered resulted in an oversubscription of about 60%.
The 91-day and 364-day yields climbed to 35.71% and 35.81%, respectively, correcting the hump in the T-bill curve.
Latest Stories
-
High Court should’ve handled vacant seats case, not Supreme Court – Justice Atuguba
14 mins -
Ghana’s Judiciary: A rotten system of corruption and betrayal of justice
29 mins -
West African Genetic Medicine Centre commissioned at UG
2 hours -
The silent struggles people face, why COP29 must go beyond compassion, prayers and paperwork – COP29 presidency
2 hours -
BoG suspends Foreign Exchange Trading Licence of CBG for one month, effective Nov. 26
2 hours -
Remembrance Day: Ghana’s last surviving World War II veteran calls for peace ahead of elections
2 hours -
Prempeh College ’96 year group hands over housing facility for non-teaching staff
3 hours -
CDKN Ghana honoured at Ghana Philanthropy Awards for leading Climate Change initiatives
3 hours -
Joy FM Prayer Summit for Peace 2024 slated for November 22
3 hours -
We like to pretend but politics have entered everywhere – Atuguba
3 hours -
Archbishop of Canterbury Justin Welby resigns over Church abuse scandal
3 hours -
Alan will ensure every region benefits from national cake – Sadique Boniface
3 hours -
Businessman donates motorbikes, cash to support Mahama’s 2024 campaign
3 hours -
Alan pledges constitutional reforms to empower chiefs
3 hours -
6,200 jobs created as SOCO project spurs economic growth and social cohesion across Northern and Oti regions
3 hours