BoG to issue three year bond today

bank-of-ghanaThe Bank of Ghana (BoG) will today issue a three year bond to raise an amount of 400million Ghana cedis.

It will be the second medium-term bond issued this year.

The first was issued in February.

The central bank last month failed to issue its scheduled 5-year bond that was intended to raise 300 million because of some unfavorable market conditions.

The prospectus of today’s bond issue indicates the money will be used for fulfill government’s financing requirement.

The issuance will be available to resident and nonresident investors and a minimum bid of 50,000 Ghana cedis will be allowed.

Interest will be determined at today’s auction and interest payment will be made twice in a year, in October and April till 24th April, 2017.

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