Ghana’s GHC44m 5-yr bond oversubscribed

The Bank of Ghana has revealed it has received 201.8 million cedis ($53.24 million) worth of bids and also paid a dividend of 21 percent in an oversubscribed five-year bond sale.

This was announced by the central bank Thursday.

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 2015 to roll-over maturing debts and increase government finances.

The bank noted that a total of 610.37 million cedis worth of bids were submitted.

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 Mahama administration have also hinted of plans to issue up to $1.5 billion of Eurobonds this year.