Ghana to issue GH¢200m bond to pay off maturing bonds

Ghana will on June 7, 2012 issue a five-year GH¢200 million bond, the central bank has said.

The bond will be issued through an auction and the purpose is to “pay off maturing bonds”, according to the Bank of Ghana (BoG).

“The instrument will be cedi-denominated and will be issued at par. It shall bear a coupon rate equal to the highest competitive bid accepted at the auction for the security,” the BoG said in a statement.

The five-year bond shall be available to both resident and nonresident investors, it added.

By Ekow Quandzie