BoG to issue another 5-year bond

The Bank of Ghana will next Wednesday, August 23, issue another five-year bond.

This will however become the fourth bond issue this year. The Central Bank is expected to raise 300 million cedis from the bond, which will be opened to foreign investors.

The issue from the debt instrument is expected to be used to fund infrastructure projects and help improve the value of the cedi to the dollar.

A 200 million cedi 5-year bond issued by the Bank of Ghana in June was massively oversubscribed by both local and foreign investors to the tune of 481.52 million cedis.

However the Central Bank accepted 232.3 million cedis of the total bids auctioned.**