Ghana sells 1.49 bln cedi ($341.2 mln) 5-yr bond at 18.25 pct

7/28/2017 9:02:01 AM

Initial Pricing Guidance: 17.25% - 19.00%. 

Ghana sold a 1.49 billion cedi ($341.2 mln) five-year domestic bond on Thursday at a yield of 18.5 percent, lead arranger Barclays Bank Ghana said.

The new government of President Nana Akufo-Addo, who took power in January, is trying to rebalance the West African commodities exporter's finances as it faces large debts from years of overspending and lower commodity prices.

Bids tendered for the 2022-maturity paper amounted to 1.71 billion cedis.

Source: Reuters 

created by XDC Express