Government is seeking to raise 17.4 billion cedis in the third quarter of this year from the securities market.
The cash accrued will be used to rollover maturities as well as to take care of government financing requirement.
A statement from the Bank of Ghana stated that about 14 million cedis of the total will be used to rollover maturities and the remaining GH¢3.2 billion as fresh issuance to meet government’s financing requirement.
During the three month period, July to September, a 2.6 billion cedi fifteen year bond will be issued in August and two five year bonds.
Two 3 year bonds, three 1 year and two 2 year bonds will also be issued.
The rest will be 91 and 182 day bills which will culminate into about 11 billion cedis.
The 2 year note will be issued monthly through the primary auction, with settlement occurring on the second Mondays of each month.
The 3 and 5 year bonds will be issued through the book building method and settlement on the last Monday of each month.
The 15 year fixed bond in August this year will be structured bond to covert the existing 91 day treasury bills investment by the National Pensions Regulatory Authority (NPRA).
Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.
(Via: CitiFM Online Ghana)
