The Government of Ghana has procured ¢408.7 million from the sale of the 3-year cedi denominated bond auctioned on 7th April, 2022.
According to the auctioning results from the Bank of Ghana, government accepted all the bids for the debt instrument which did not have a targeted amount.
The bond was sold at an interest rate of 20.85% to investors, higher than the Initial Price Guidance of 20.65% and also expensive than the 5-year bond issued last month at a price of 20.75%.
According to reports, non-resident or foreign investors did not participate in the auctioning of the government bond due to the perceived risk of the economic outlook of the country by investors.
The 3-year bond will mature in April 2025.
Absa, Black Star, CalBank, Da Databank, Ecobank, Fidelity, GCB, IC Securities, Stanbic were the sponsoring firms or bond market specialists.