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.
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