{"id":443446,"date":"2017-12-04T10:06:30","date_gmt":"2017-12-04T10:06:30","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/04\/ghana-raises-ghc5-3bn-in-multiple-bonds-to-refinance-debt\/"},"modified":"2017-12-04T10:06:30","modified_gmt":"2017-12-04T10:06:30","slug":"ghana-raises-ghc5-3bn-in-multiple-bonds-to-refinance-debt","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/04\/ghana-raises-ghc5-3bn-in-multiple-bonds-to-refinance-debt\/","title":{"rendered":"Ghana raises GHC5.3bn in multiple bonds to refinance debt"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday,  4 December 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>reuters.com<\/p>\n<p>2017-12-04<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/59746719.295.jpg\" alt=\"Bond Finance Fix\" title=\"Bond Finance Fix\" width=\"295\" height=\"196\" \/><span class=\"image_caption\"><span>Nearly half of Thursday\u2019s total sale consisted of treasury bills<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125817929577\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125817929577\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/1512381990_19_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">Ghana sold GHC5.29 billion worth of long-term bonds on Thursday, dominated by re-openings of previous bond issues by the major commodity exporter to help restructure its high public debt, lead arrangers said.<\/p>\n<p>Ghana is grappling with budget deficits, inflation and a volatile local currency, all of which have forced the government to sign a $918 credit deal with the International Monetary Fund.<\/p>\n<p>Apart from a new five-year paper, sold at a yield of 17.6 percent, the West African country reopened existing bonds with maturities of seven, 10 and 15 years, the joint book-runners Barclays Bank, Stanbic Bank and brokers Strategic African Securities said in a statement.<\/p>\n<p>Government of Akufo-Addo, who took power in January, is trying to rebalance the country\u2019s finances and narrow the public debt, which stood at 138.9 billion cedis or 68.6 percent of GDP as of the end of September.<\/p>\n<p>A source close to the transaction said nearly half of Thursday\u2019s total sale consisted of treasury bills that were restructured into long-term bonds.<\/p>\n<p>\u201cIn effect, only about half of the cumulative 5.29 billion cedis accepted was fresh borrowing. The other half is only converting existing treasury bill investments into longer maturities,\u201d the source said.<br \/>&#13;<br \/>\nSettlement for the bonds is due on Monday.<\/p>\n<p><!-- uploaded by: 48 updated by: 48 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 4 December 2017 Source: reuters.com 2017-12-04 Nearly half of Thursday\u2019s total sale consisted of treasury bills Ghana sold GHC5.29 billion worth of long-term bonds on Thursday, dominated by re-openings of previous bond issues by the major commodity exporter to help restructure its high public debt, lead arrangers said. Ghana is grappling [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":443447,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-443446","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana raises GHC5.3bn in multiple bonds to refinance debt - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/12\/04\/ghana-raises-ghc5-3bn-in-multiple-bonds-to-refinance-debt\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana raises GHC5.3bn in multiple bonds to refinance debt - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Monday, 4 December 2017 Source: reuters.com 2017-12-04 Nearly half of Thursday\u2019s total sale consisted of treasury bills Ghana sold GHC5.29 billion worth of long-term bonds on Thursday, dominated by re-openings of previous bond issues by the major commodity exporter to help restructure its high public debt, lead arrangers said. 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