Ghana's GH¢440m 5-yr bond oversubscribed, yield at 21%

Government  accepted 201.8 million cedis ($53.24 million) worth of bids and paid a yield of 21 percent in an oversubscribed five-year bond sale on Thursday, the central bank said.

The 440 million-cedi bond, open to offshore investors, was the second in a series of medium-term auctions planned for the first half of this year to roll-over maturing debts and boost government finances.

The bank said a total of 610.37 million cedis worth of bids were tendered

The central bank said a total of 610.37 million cedis worth of bids were tendered.

Open to offshore investors, the sale was the second in a series of medium-term auctions planned for the first half of 2015 to refinance maturing debt and boost government finances. The government also plans to issue up to $1.5 billion of Eurobonds this year.