The Government of Ghana will on Monday, 25 July 2016, issue a five-year domestic Treasury Bond.
The proceeds will be used for debt and loan refinancing. It is not clear how much the government intends raising.
Below are the details of the bond issuance:
Republic of Ghana: July 2016 5-Year Treasury Bond Issuance
ISSUER: Republic of Ghana SIZE: GHS [To Be Determined]
ISSUE: Treasury Bonds (the “Notes”, “Bonds”)
USE OF PROCEEDS Refinance
MATURITY: 2021 (5-year issuance)
SECURITY: Senior Unsecured
PRINCIPAL REPAYMENT: Bullet
DISTRIBUTION: Marketed to Resident Investors/Open to Non-Resident Investors
DENOMINATIONS: Each Bond shall have a face value of one Ghana Cedi
MINIMUM BID GHS50 thousand and multiples of GHS1 thousand thereafter
GOVERNING LAW: Ghana LISTING: Ghana Stock Exchange (GSE)
ACTIVE JOINT BOOKRUNNERS: Barclays, SAS, Stanbic
PRICING, BOOKBUILD AND ALLOCATION METHODOLOGY OFFER PERIOD
TUESDAY 19TH JULY 2016: [Release of Initial Pricing Guidance]
WEDNESDAY 20TH JULY 2016: Book-build opens 9:00AM Revised Pricing Guidance (released as necessary during the Book-build)
THURSDAY 21ST JULY 2016: Revised and Final Pricing Guidance (released as necessary during the Book-build) Books to close on short notice on Thursday p.m. Final Pricing and Allocation
MONDAY 25TH JULY 2016: Settlement/Issue Date
ISSUE METHODOLOGY: Book-build format Bids accepted on a yield (%) basis All successful bids will clear at a single clearing level Pro rata allocation
Source: Ghana/AccraFM.com
