{"id":693927,"date":"2019-08-28T14:48:23","date_gmt":"2019-08-28T14:48:23","guid":{"rendered":" <br><div data-io-article-url=\"https:\/\/www.adomonline.com\/finance-ministry-refutes-bloombergs-20-year-bond-report\/\">\n            <div class=\"td-post-featured-image\"><figure><img width=\"696\" height=\"464\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/www."},"modified":"2019-08-28T14:48:23","modified_gmt":"2019-08-28T14:48:23","slug":"finance-ministry-refutes-bloombergs-20-year-bond-report","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/08\/28\/finance-ministry-refutes-bloombergs-20-year-bond-report\/","title":{"rendered":"Finance Ministry refutes Bloomberg\u2019s 20-year bond report"},"content":{"rendered":"<p><\/p>\n<div data-io-article-url=\"https:\/\/www.adomonline.com\/finance-ministry-refutes-bloombergs-20-year-bond-report\/\">\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"464\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2019\/07\/1564594199_579_2019-mid-year-budget-review_31-696x464.jpg\"   alt=\"\" title=\"2019 mid-year budget review_31\"\/><figcaption class=\"wp-caption-text\">Ken Ofori-Atta, Finance Minister<\/figcaption><\/figure>\n<\/div>\n<p>The Finance Ministry has dismissed Bloomberg\u2019s report which seeks to suggest Ghana\u2019s debut 20-year domestic bond was a failure and under-subscribed.<\/p>\n<p>\u201cWe were aware that given the current market conditions and the limited appetite for longer-dated bonds, the size of the debut issue was unlikely to be of a benchmark size, and that was the reason it was structured as a shelf offering, so additional issuances could be done over time to reach the targeted GH\u00a2450 million benchmark level,\u201d the Ministry said.<\/p>\n<p><strong>ALSO: Y\u2019asem Nie: Shoe maker narrates how his lover died in his room [Video]<\/strong><\/p>\n<p>According to the Ministry, the bond was a fairly priced offering that had established another data point along government\u2019s yield curve.<\/p>\n<p>In a statement issued by the Ministry on Wednesday, it said it issued the bond to investors with a settlement date of August 26, 2019 in accordance with the issuance calendar, which is published on a quarterly basis at the beginning of each quarter.<\/p>\n<p>\u201cIn the issuance calendar for the 3rd quarter, we included the possibility of issuing a 20-year bond for the first time subject to market conditions, and indicated a target size of up to GH\u00a2450 million.<\/p>\n<p><strong>ALSO: PPA scandal: Suhuyini details \u2018rotten\u2019 corruption pattern under Akufo-Addo<\/strong><\/p>\n<p>\u201cThe primary reason for the issuance of a debut 20-year bond was to extend the tenor, yield curve, and establish a benchmark. This also helps to deepen the domestic market and improve liquidity through the issuance of benchmark size bonds that will be sizeable enough for investors to trade in and out of, thereby, creating liquidity, better price discovery or pricing and deepening the secondary market,\u201d the Ministry noted in a statement.<\/p>\n<p><strong>Source: Adomonline.com<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ken Ofori-Atta, Finance Minister The Finance Ministry has dismissed Bloomberg\u2019s report which seeks to suggest Ghana\u2019s debut 20-year domestic bond was a failure and under-subscribed. \u201cWe were aware that given the current market conditions and the limited appetite for longer-dated bonds, the size of the debut issue was unlikely to be of a benchmark size, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":693928,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-693927","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - 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