Government to issue its first seven year bond next month

Government is expected to issue its first seven year bond next month to raise 100 million Ghana cedis.

This would be the first time the country issuing a bond that would mature over that period. It is also planning to issue another seven year bond in November to raise the same amount.

The announcement was contained in Government’s securities calendar issued for the next half of this year by the Bank of Ghana.

Another five year bond would be issued in September to raise 600 million Ghana cedis .

JOYBUSINESS gathers proceeds from these bonds would to used to settle debts that are maturing and finance some infrastructure projects.

This could bring the total amount of funds government would raise from the sale of short and long dated bonds for this year to about 13 billion Ghana cedis.