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For the first time in recent bond sales, the Ghanaian government achieved more than half of its 2-year bond issue target yesterday.
According to the business results, the government raised 1.53 billion cedis from GHS against a target of 1 billion cedis.
The interest rate or yield of 18.50 percent was also in line with secondary market levels.
Joy Business learned that most of the funds would be used to pay off maturing debt, while the rest will be used to support government financing.
A book-making approach was taken, indicating that a pricing guide was established before the voucher was released.
The government had also exceeded its weekly sale of treasury bills last Friday, the first time in several weeks.
Last bond sale
During the sale of the 3-year bond last month, the Government of Ghana accepted all offers for GHS823.64 million.
The interest rate of the debt instrument that would be paid semi-annually until maturity was 19.0%.
Since the emergence of the coronavirus pandemic, the government has been accepting all bond offers issued so far.
