Ghana’s US$5bn Eurobond oversubscribed

by Business Zone

Close sources from the Finance Ministry has indicated that government’s US$5 billion Eurobond has been oversubscribed. However, the interest cost has not yet been disclosed.

The Finance Ministry is expected to put out a statement to give full details about the Eurobond oversubscription soon.

Ghana becomes the first African country to issue a zero-coupon rated bond. With a zero-rated coupon bond, no interest is paid whilst it trades a discount to its face value

Commenting on the oversubscription, spokesperson and Economic Adviser to the President, Dr Gideon Boako said government will not accept all the bids submitted.

Source: businesszoneonline

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