Government’s three-year bond heavily oversubscribed
May 30, 2013, 14:34 GMT
The three-year bond issued by government Thursday to finance maturing debts and infrastructure projects has been oversubscribed by almost 100 percent.
Joy Business checks indicate that government received almost 786 million Ghana cedis worth of bids from investors, though it set out to mobilize 400 million Ghana cedis.
It however accepted only 489 cedis.
Almost 80 percent of the bids came from foreign investors.
The bond had a yield of 19.2percent the highest in recent times.
This would be the third bond issued for the first half of this year.
Government has so far raised about 1.2 billion Ghana cedis from the sale of these bonds.
This will now bring the number of cedi denominated bonds issued from the middle of last year till date, to about 10.
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