Ghana to raise $6.4b in domestic bonds market

The government of Ghana will raise at least 25.3 billion Ghana cedis (6.4 billion U.S. dollars) from the domestic bonds market during the Aug.-Dec. period of the year, a statement on the bank's official website on Monday.

The bank's Revised Issuance Calendar explained that part of the bond receipts would be used to roll over maturing debts equivalent to 6.04 billion U.S. dollars.

The remaining amount of 358.8 million dollars of fresh issuance, it said, would be used to meet the government's financing requirements.

The debt instruments range between 91-day treasury bills and 10-year-bonds.

The 91-day and the 182-day treasury bills is to be issued weekly while the one-year note will be issued every two weeks through primary auctions.

"The two-year note will be issued monthly through the primary auction with settlement occurring on the second Monday of each month," the Bank of Ghana stated.

Source : XINHUA