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Business News Tue, 17 Jan 2017

Govt to issue 17.4 billion cedis in debt securities

Government will in the first quarter of 2017, borrow 17,400.00 million cedis through bonds and treasury bills and other government securities. Related Stories

The cash will be used rollover forecast maturities, meet Government’s financing requirements and build buffers for liability management. Of this 15,504.43 million cedis will be used to rollover forecast maturities and the remaining 1,895.57 million cedis will be used to meet Government’s financing requirements and build buffers for liability management.

A statement issued by the central bank and signed by its Secretary, Caroline Otoo said, ‘per the proposed calendar, 91-day and 182-day Tbills will be issued weekly, 1-Year Note will be issued bi-weekly through the primary auction, with settlement occurring on first and third Mondays of each month while the 2-Year Note will be issued monthly also through the primary auction, with settlement occurring on second Mondays of each month’.

A 1 year 600 million note will be issued in total in the first quarter, 200 million cedis in each month, while a two year note of 400 million will be also be issued in January, February and March. Meanwhile a 3 and 5 year bond will be issued in January and February. In February, a 700 million cedi 3 year bond will be issued while in January 5 year 600 million cedi bond will be issued.

The two bonds will be done trough the book building method at the Ghana Stock Exchange.

Source: Citifmonline.com
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