Govt’s three-year bond heavily oversubscribed
From: Ghana | Joy Business
January 10, 2013, 15:00 GMT
The three-year bond issued by government today to finance maturing debts has been heavily oversubscribed.
Joy Business' checks indicate that government received 2.2 billion Ghana cedis worth of bids from investors, in spite of the fact that it set out to mobilize 400 million Ghana cedis.
It however accepted 402 million Ghana cedis and returned the rest to investors.
A little over 90 percent of the bids came from foreign investors. The bond will have a yield of 16.7 percent.
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