hunting for eurobonds
hunting for eurobonds

According to sources at the Treasury Department of the bank, the intended 1.5 billion cedis bond was subscribed up to about 1.3 billion cedis, with investors offering their bids for between 23 percent and 26 percent yield.

hunting for eurobonds
hunting for eurobonds
Government then decided to accept 995 million cedis or 260.11 million dollars at a coupon rate of 34.5 percent.

Government earlier this month issued a 1.0 billion-dollar 15-year Eurobond at a rate of 10.75 percent for which proceeds it intends to use in settling some short- term domestic debts that are due in 2015.

Bids accepted included 85 percent offshore offers while the rest were from local investors.

As part of its new debt management strategy, the government says it intends to use longer term debts to finance commercial projects that have the capacity to self-finance, while it uses short-term debts to deal with short-term liquidity challenges. Enditem

Source: Xinhua

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