Ghana’s Ministry of Finance has raised a total of GH1.99 billion from a five-year domestic bond at a yield of 16.5 percent.
The initial guidance for the bond, open to non-resident Ghanaians, was in the range of 15 percent to 16.5 percent.
Total bids tendered were 2.01 billion cedis, but the government of the West African nation accepted GH1.99 billion. Settlement of the bond will mature in 2023.
The bookrunners include Barclays Bank Ghana, Stanbic Ghana, Fidelity Bank, Databank and brokerage firm IC securities.
A scheduled table released by the Finance Minister, Ken Ofori-Attah through the central bank early this year stated that government intends to issue a total of GH11.13 billion in the first three months of 2018.
Of the said amount, GH8.96 million will be rollovers to restructure maturing debts.