Bondholders given three-day extension after technical glitches

Mr Ken Ofori-Atta,
Mr Ken Ofori-Atta,

The Government has extended the deadline for the Domestic Debt Exchange Programme (DDEP) to Friday, February 10, as a result of technical challenges with tendering processes.

This is the fifth time the Government has announced a change in the deadline extension for the programme requiring bondholders to trade about 80 per cent of a total of GHS137 billion in bonds for new ones.

A news release by the Finance Ministry and copied to the Ghana News Agency on Tuesday evening read: “It has come to the attention of Government that some bondholders faced technical glitches as they tried to complete the online tender process.”

It added that: “As a result, Government is providing bondholders with a window to complete processes for tendering their bonds, in response to the terms of Exchange as amended pursuant to the 2nd Amended and Restated Exchange Memorandum. This window ends on Friday, 10th February 2023 at 4:00 p.m. (GMT).”

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