Ghana to auction extra 5-year bonds on Dec 8

The Bank of Ghana said it will auction on Dec 8 an additional 200 million cedis of the five-year bond it first issued on August 1 after an auction where it sold 301 million cedis worth at a yield of 14.25 percent.

It said the coupon rate would be 14.25 percent and that the auction would be open to resident and non-resident investors.

It said in a statement the aim of the issue was to partly finance the redemption of a five-year bond maturing this December and the construction of four major road projects.