Off the wire
• U.S., Russia differ on Iran's missile launch at UN Security Council  • French gov't revises controversial labor reform bill  • Urgent: U.S. dollar rises ahead of Fed meeting  • 2nd LD Writethru: Putin orders withdrawal of Russian air forces deployed in Syria  • Protests erupt in Turkey against poor security after Ankara bombing attack  • French nationals among those killed in Cote d'Ivoire resort attack: Elysee  • Spain's economy to grow by 2.7 pct in 2016: FUNCAS  • Spanish stock market rises 0.57 pct, closes at 9,142 points  • 76kg rhino horns seized at Mozambican airport  • 1st LD Writethru: Gold down ahead of Fed policy meeting  
You are here: 　 Home

Ghana raises nearly 200 mln USD in domestic bonds for debt substitution

Xinhua, March 15, 2016 Adjust font size:

Ghana raised a total of 746.44 million Ghana cedis or 194.15 million U.S dollars in a five-year domestic Bond issued here for March, a release by the Ministry of Finance said on Monday.

"The issuance of this bond gives further impetus to government's Medium Term Debt Management Strategy, which among others focuses on minimizing and/or replacing expensive shorter dated instruments with longer dated issuances. It also provides a positive boost to the development of our domestic debt market," said the release.

It said the issuance, which was done through the Book-Building method, had a total of 76 bids tendered with a face value of over 200 million dollars, out of which, 194 million dollars were accepted.

The release said part of the amount accepted would be used to settle the Three-Year Fixed Bond of 107.36 million dollars debts, which matures this month.

Part of the remaining 85.28 million dollars would also be allocated to meet government's refinancing and capital expenditure needs as captured in the 2016 Budget, it added. Enditem.