Bids from both local and international investors has resulted in the over-subscription of government’s 6-year bond by 350%.
Bids made by all interested investors amounted to Ghs 2.87 billion as against a target of Ghs 800 million. Government accepted all bids made.
Over-subscription of the 6-year bond indicate investors’ confidence in Ghana’s economy.
The yield on the bond issued was 19.25%
Part of the amount raised will be used to repay upcoming debt maturities with the remaining used to finance some government programmes.
Book runners for the issuance of the government debt were Absa, Databank, Fidelity, IC Securities and Stanbic Bank.
Source: norvanreports
Via: Snr Fuaad Dodoo
