Ghana sells GH¢477.6m 10-year bond

Ghana sold GH¢477.6 million worth of a fresh 10-year domestic currency bond on Thursday and will pay a yield of 17.5 percent, transaction arrangers said.

The issuance, open to foreign investors, attracted offers worth GH¢523.2 million cedis, Barclays Bank Ghana said in an email to Reuters.

Initial pricing guidance for the paper, which matures in May 2028, was set at 17.0 percent to 17.75 percent. Settlement is slated for June 11.

15-year bond

Earlier, Government raised more than GH¢3.4 billion in the country‘s first 15-year bond as well as GH¢1.4 billion in another seven-year government paper that was also closed.

The State is expected to pay investors who participated in the two bonds an interest of 19.75 percent.

Although government actually had GH¢3.427 billion worth of bids from investors, it but took GH¢3.422 billion with proceeds from the seven and 15-year bonds totaling almost GH¢5 billion.

Source: reuters.com