{"id":1255526,"date":"2022-11-22T09:35:19","date_gmt":"2022-11-22T09:35:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/22\/government-faces-%c2%a22-83bn-5-year-bond-refinancing-with-26-foreign-holdings\/"},"modified":"2022-11-22T09:35:19","modified_gmt":"2022-11-22T09:35:19","slug":"government-faces-%c2%a22-83bn-5-year-bond-refinancing-with-26-foreign-holdings","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/22\/government-faces-%c2%a22-83bn-5-year-bond-refinancing-with-26-foreign-holdings\/","title":{"rendered":"Government faces \u00a22.83bn 5-year bond refinancing with 26% foreign holdings"},"content":{"rendered":"

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The government is faced with refinancing a \u00a22.83 billion 5-year bond, maturing on November 28, 2022 with 26% of foreign holdings.<\/p>\n

With the unfavourable pricing conditions, analysts expect the government to present a rollover offer.<\/p>\n

This is expected to increase the cost of the financial instrument.<\/p>\n

Also, the government will seek to raise \u00a22.17 billion to refinance the upcoming Treasury bills maturities of \u00a21.72 billion.<\/p>\n

Meanwhile, for the first time in six weeks, the government exceeded its auction target. It accepted all bids and raised GH\u00a21.66 billion in the process.<\/p>\n

It also exceeded its refinancing obligation by 54%.<\/p>\n

Analysts believe the excess uptake will provide some buffer to address future auction shortfalls.<\/p>\n

Despite improved demand, yields went up by more than 35% The 91-day and 182- day tenors went for 35.20% and 35.99%.<\/p>\n

Bond market activity picks up<\/strong><\/p>\n

Activity on the secondary bond market picked up last week as aggregate turnover rose by 8.07% week-on-week to \u00a23.19 billion.<\/p>\n

Though the front end of the yield curve saw more trading activity, yields increased by an average of 2% as selling interest dominated the market.<\/p>\n

Analysts expect a topsy-turvy bond market this week as investors remain defensive with lingering uncertainty as the market awaits the Debt Sustainability Analysis report.<\/p>\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The government is faced with refinancing a \u00a22.83 billion 5-year bond, maturing on November 28, 2022 with 26% of foreign holdings. With the unfavourable pricing conditions, analysts expect the government to present a rollover offer. This is expected to increase the cost of the financial instrument. Also, the government will seek to raise \u00a22.17 billion […]<\/p>\n","protected":false},"author":1,"featured_media":1255528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[29191,6056,5960,1404,663,1090,1698,26373],"class_list":["post-1255526","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-2-83bn","tag-5year","tag-bond","tag-faces","tag-foreign","tag-government","tag-holdings","tag-refinancing"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1255526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1255526"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1255526\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1255526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1255526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1255526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}