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GoG to borrow GH¢5.5bn in May

The Bank of Ghana, on behalf of the Ministry of Finance, has announced for the information of Primary Dealers, Banks, prospective investors in the domestic securities market and the general public, the Issuance Calendar for Government of Ghana Securities for May 2016 as follows:

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The aggregate borrowing for the month of May 2016 is GH¢5,520.00 million, to cover maturities of GH¢5,229.95 million, according to a notice signed by Mrs Caroline Otoo, Secretary.

Net issuance during the month is, therefore, GH¢290.05 million to meet Government’s financing needs.

The issuance frequency for the bills, notes and bonds is as follows:

• The 91-day and 182-day bills will be issued weekly in average amounts of GH¢ 460.00 million and GH¢ 384.00 million, respectively

• For the 1-Year Note, an amount of GH¢200.00 million will be issued through tapping/reopening of the 3-Year bond maturing on 29th May, 2017. The remaining amount of GH¢100.00 million will be issued through the primary auction in average amount of GH¢50.00 million bi-weekly.

• Also for the 2-Year Note, an amount of GH¢250 million will be issued through tapping/reopening of the 3 –Year bond maturing 21st May, 2018. The remaining amount of GH¢ 250.00 million will be issued through the primary auction available to resident and non-resident investors.

• 3-Year Fixed Rate Bonds will be issued through the normal auction process and available to resident and non-resident investors. It should be noted that: (i) The Ministry of Finance and the Bank of Ghana reserve the right not to roll-over maturing instruments and to amend these details as and when the need arises. (ii) These instruments may be reopened to create liquidity in the instrument.

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