Government rakes in Ghs 1.24 billion from 6-year bond
Government, in the issuance of a 6-year maturity bond has raised some Ghs 1.24 billion.
The bond, per reports was oversubscribed by 24 percent.
The successful issuance of the debt instrument follows an improved demand for the sale of treasury bills after some fluctuations experienced in the demand for the short term debt instrument in recent times.
Funds raised from the issuance according to the Finance Ministry will be used to finance part of this year’s budget and settle some maturing debts.
The 6-year bond issued at an interest rate of 18.8 percent was opened to both resident and non-resident investors.
Absa, Black Star, CalBank, Databank, Ecobank, Fidelity, GCB, IC Securities and Stanbic were the active bond market specialists.