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11.09.2019 Business & Finance

Gov’t Announce Plans To Borrow GH¢14,337.87m

Ken Ofori-Atta
LISTEN SEP 11, 2019
Ken Ofori-Atta

Government has announced plans to issue a gross amount of GHȼ14,337.87 million, of which GH¢13,645.56 million is to rollover maturities and the remaining GH¢692.31 million is fresh issuance to meet government's finance requirements.

Government's Issuance Calendar for September to November, 2019, which stated this, said it aims to build benchmark bonds through the issuance of instruments including the 91-day and 182-day, which would be issued weekly; the 364-day bill to be issued bi-weekly also through the primary auction, with settlement being the transaction date plus one working day; and the securities of two-year up to seven-year which would be issued through the book-building method.

Again, government said the amount of GH¢700.00 million for the five-year bond in October, 2019 is expected to be raised through the re-opening of existing seven-year bond which is billed to mature on 7th April, 2025; and the issuance of the 20-year bond as a shelf offering, would be re-opened based on investors request and on market conditions.

It mentioned that in line with the 2019 Annual Borrowing Plan, Government would update the issuance calendar monthly on a rolling basis, to reflect a full quarter financing programme.

—Daily Guide

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