Treasury to Raise GHS 4.97 Billion in Upcoming Treasury Bill Auction to Address Maturities
The Government of Ghana is set to raise GH₵4.97 billion in its forthcoming auction scheduled for 16th August 2024, as it seeks to address impending maturities totaling GH₵3.9 billion.
The upcoming auction will see the issuance of the 91, 182, and 364-Day Treasury bills, with the target marginally reduced from the previous week’s goal of GH₵6.55 billion.
In the most recent auction, investor bids amounted to GH₵5.3 billion, all of which were fully accepted, although the sum fell short of the GH₵6.55 billion target.
Notably, the 91-Day Treasury Bill captured the lion’s share of investor interest, accounting for 78% of total subscriptions.
This marks a continuation of the trend where demand has been primarily concentrated in the shorter-term debt security.
Yield movements across the three tenors were minimal, with the rate on the 91-Day T-Bill inching up by a mere 0.01% to 24.83%.
Meanwhile, the 182-Day and 364-Day T-Bill rates remained static at 26.76% and 27.86%, respectively, underscoring a stable rate environment for longer-term issuances.
