The Bank of Ghana (BoG) is inviting bids for the issuance of a GH¢ 630 million government of Ghana 3-year fixed rate bond on February 19.
According to the prospectus, the purpose of the bond is to rollover maturities, restructure government debt and also for liquidity management.
The 3-year Fixed Rate Bond shall be available to both resident and non-resident investors.
The minimum bid is GH¢ 50,000 and multiples of GH¢ 1,000 thereafter and the coupon rate will be determined at the auction.
As part of the terms, interest payment will be done semi-annually from the issue date, in August and February.
The amount of interest paid on every coupon payment date shall be equal to the principal amount at the coupon rate for half-year.
The security shall be listed on the Ghana Stock Exchange (GSE) for secondary market trading both at the floor of the Exchange or over the counter (OTC).
Trading in the securities is subject to the listing rules of the GSE for Government Securities.
The prospectus was signed by the Bank of Ghana Secretary, Mrs. Caroline Otoo.
Credit: citifmonline