Government raises GHS 5.25 billion in oversubscribed T-Bill auction
In a robust display of investor confidence, the Government successfully mobilized GHS 5.25 billion through its latest T-Bill issuance, significantly surpassing the initial target of GHS 4.40 billion.
This achievement marks an oversubscription rate of 19.4%, equivalent to an excess of GHS 855 million above the target.
With marginal yield increments across the 182 and 364-day tenors, the auction attracted substantial investor interest.
The yields on the 182-day and 364-day bills increased modestly by 0.02% each, settling at 26.93% and 27.92%, respectively. The yield on the 91-day bill remained unchanged at 25.03%.
The 91-day bill garnered the highest level of subscriptions, with accepted bids totaling GHS 3.39 billion.
This was followed by the 182-day bill, which saw successful bids amounting to GHS 1.68 billion, and the 364-day bill, which attracted GHS 167 million in accepted bids.
The Treasury’s successful auction highlights a continued strong appetite for short-term government securities, even as yields on longer tenors experienced slight upticks.
Looking ahead, the Treasury aims to raise GHS 4.90 billion in its next auction through the issuance of the 91-day, 182-day, and 364-day bills, as it continues to leverage market confidence to meet its financing needs.
