Indexing government scandals one at a time
Government failed to meet its target for the first tranche of the energy bond after a second attempt. The government was seeking to raise 6 billion cedis under two separate bonds.
But it accrued a total of 4.6 billion cedis after it closed the auction last Friday. The 7-year bond received the targeted 2.4 billion cedis while the 10-year bond accrued about 2.2 billion cedis, below the target of 3.6 billion cedis. The managers also accepted an interest rate of 19.5% for the 10-year bond.
Nov. 6, 2017
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