"Government exceeds target for T-bills issuance by Ghs 221 million"

" \n Government, has exceeded its target of mobilising some Ghs 1,305 million in fresh debt from banks, pension funds and insurance companies in the issuance of its 91, 182 and 364 days treasury bills on Friday, July 9, 2021. \n \n\n \n Readers will recall that norvanreports on Tuesday, July 6, reported that government was going to issue the aforementioned securities with the goal of raising some Ghs 1,305 million. \n \n\n \n The auction of the 91, 182 and 364 days T-bills on Friday, saw government realise more than its target of Ghs 1,305 million by Ghs 221 million as it accepted majority of the bids made by the banks, pension funds and insurance companies that participated in the auction. \n \n\n \n Total bids tendered in by participants of the auction amounted to Ghs 1,526 million, indicative of the ever-increasing appetite of insurance companies, pension funds and particularly banks, for government securities. \n \n\n \n With the exception of the 364 day T-bill, government accepted all bids tendered for the 91 and 182 days T-bills. \n \n\n \n Bids tendered in for the 91 and 182 days T-bills issued at a discount rate of 12.1 percent and 12.4 percent were Ghs 1,276 million and Ghs 124 million respectively. \n \n\n \n With regards to the 364 days T-bills, total bids tendered in amounted to Ghs 149 million out of government accepted Ghs 125 million \u2013 Ghs 24 million less the bids made by banks, pension funds and insurance companies. \n \n\n \n The 182 days T-bills were issued at a discount rate of 13.7 percent. \n \n\n \n Government, come this Friday, July 16, 2021, will once again be looking to raise some Ghs 1,281 million on the domestic debt market with the issuance of its 91 and 182 days T-bills. \n \n\n \n With an ever-increasing appetite for government securities which are less risky and easing liquidity on the interbank market, government is expected to once again exceed its target in the issuance of the 91 and 182 days T-bills on Friday. \n \n\n \n Peruse below details of the auction: \n \n\n \n Auctresults-1754 by Fuaad Dodoo on Scribd (function() { var scribd = document.createElement(\"script\"); scribd.type = \"text\/javascript\"; scribd.async = true; scribd.src = \"https:\/\/www.scribd.com\/javascripts\/embed_code\/inject.js\"; var s = document.getElementsByTagName(\"script\")[0]; s.parentNode.insertBefore(scribd, s); })(); \n "

"Government exceeds target for T-bills issuance by Ghs 221 million"

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