BoG to issue 7yr bond on Nov. 21

The Bank of Ghana (BoG) on behalf of government will on November 21 issue its second 7 year bond this year to the tune of GH¢100 million Ghana.

XYZ BUSINESS learnt proceeds from the long term debt instruments will be used to finance capital projects and settle maturing debts.

It will be issued at par and opened to both resident and non-resident local investors.

Ghana’s first ever 7-year domestic bond was massively oversubscribed by 170 percent mainly by foreigners.

The proceeds were used to restructure debts, benchmark subsequent bonds and also finance capital projects.

The 7-year bond which is expected to be listed on the Ghana Stock Exchange will mature on November 21, 2020.