Government misses GHS 1.35bn T-bills target; mobilize GHS 1.32bn from 6-year bond
Government on Friday, January 21, 2022, failed to meet a target of Ghs 1,356 million in the auction of its 91,182 and 364-day treasury bills.
Per the auction results report released by the Bank of Ghana (BoG), bids tendered in by primary dealers for the 91 days T-Bills, amounted to Ghs 859 million with government accepting all bids tendered in.
Bids for the 182 and 364 days T-Bills also amounted to Ghs 185 million and Ghs 99 million respectively with government once again accepting all bids made for the short-term debt instruments.
Bids tendered in for the 91,182 and 364 days were insufficient to meet their respective targets.
Cumulatively, government was able to mobilise some Ghs 1,143 million from the auction, falling behind its target of Ghs 1,356 million by Ghs 213 million.
Additionally, government mobilized some GHS 1.32bn at a coupon rate of 21.75% from the issuance of a 6-year cedi denominated bond.
The 6-yr cedi denominated bond set to mature in 2028 was opened to both resident and non-resident investors.
The 6-yr bond issued by government is to raise funds to rollover a 5-year cedi denominated bond which matured this month – January 2022.
Alongside the issuance of the 6-year bond was also the issuance of a 3-year cedi denominated bond.
The 3-yr senior unsecured bond set to mature on December 30, 2024, was issued with a coupon rate or interest of 20.5%.
Some GHS 606 million was raised from the issuance of the 3-yr bond.
Read auction results below:
BOG Notice No 06 FMD T Bills Auctresults 1782 21st Jan 2022 by Fuaad Dodoo on Scribd
