BoG to raise GH¢200m to pay off maturing bonds

By: Masahudu Ankiilu Kunateh
The Bank of Ghana (BoG), regulator of the banking industry, says it is expected to issue a five year bond in June this year to raise GH¢200 million.

According to BoG, the amount, when raised, will be used to pay off maturing bonds.

It hopes to raise GH¢8.5 million for the second and third quarters of this year from the sale of government securities.

This will bring the total amount government wants to raise from the domestic market by September this year to GH¢11.1 million.

This was contained in a Calendar for Government Securities published on BoG's website. This will be the second bond issue for this year, after the February three-year bond.

The short-term treasury bills and Notes (91-Day Treasury bill, 182-Day Treasury

Bill, 1-Year Note and 2-Year Note) are solely available to residents, and shall not be available to non-resident or foreign investors, while the 5-Year Fixed Rate Bond of five (5) year tenor shall, however, be available to both resident and non-resident investors.

The purpose and amounts for the 2012 programme will be published on a quarterly basis, based on the 2012 Budget, the regulator added.