GOV’T OF GHANA TO ISSUE GH¢400 MILLION 3-YEAR FIXED RATE BOND TODAY; READ TERMS

TERMS 
Issuer: Government of Ghana
Purpose: For Government budget support and to rollover maturing debt
Amount: GH¢400 million
Issue Method: Through an auction to be held on 30th May, 2013
Price: The instrument shall be issued at par.
Denomination: Each Bond shall have a face value of one Ghana cedi.
Minimum Bid: GH¢50,000 and multiples of GH¢1,000 thereafter.
Coupon: To be determined at the auction to be held on 30th May, 2013.

Interest Payment:

Semi-annually from the Issue Date, in December and June.

The amount of interest paid on every coupon payment date 
shall be equal to the principal amount at the coupon rate for half-year. 

Withholding Tax: The Internal Revenue Act 2000 requires the Bank to withhold tax in respect of interest payments to resident corporations holding Bonds on their own account at the rate of 10% of the gross amount of the payment. Interest paid to a non-resident holder (individual or institution) on Bonds issued by the Government of Ghana is exempt from tax.
Application Methods: Bids may be made on either a competitive or noncompetitive basis through Primary Dealers only. Primary Dealers may also submit bids on their own behalf. Bids received will not be revocable.
Participation: The 3-year Fixed Rate Bond shall be available to both
resident and non-resident investors.
Closing Date: Bids must be electronically delivered to the Central Securities Depository Auction Module not later than 1.30 pm on Thursday, 30th May, 2013

Click here to Download the Full Prospectus 

One thought on “GOV’T OF GHANA TO ISSUE GH¢400 MILLION 3-YEAR FIXED RATE BOND TODAY; READ TERMS

  1. […] TERMS Issuer: Government of GhanaPurpose: For Government budget support and to rollover maturing debtAmount: GH¢400 millionIssue Method: Through an auction to be held on 30th May, 2013Price: The instrument shall be issued at par.Denomination: Each Bond shall have a face value of one Ghana cedi.Minimum Bid: GH¢50,000 and multiples of GH¢1,000 thereafter.Coupon: To be determined at… Continue reading GOV’T OF GHANA TO ISSUE GH¢400 MILLION 3-YEAR FIXED RATE BOND TODAY; READ TERMS […]

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