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BANK OF GHANA
NOTICE TO BANKS AND THE GENERAL PUBLIC
NOTICE NO. BG/TD/2016/50
GOVERNMENT OF GHANA DEBUT USDDENOMINATED DOMESTIC BOND ISSUANCE
DISCLAIMER
NOTHING IN THIS COMMUNICATION CONSTITUTES AN OFFER OF
SECURITIES FOR SALE IN ANY JURISDICTION WHERE SUCH AN
OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THIS IS FOR DISTRIBUTION IN GHANA ONLY. THIS IS NOT FOR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY OTHER
JURISDICTION.
Following the establishment of a domestic multi-currency bond
programme (the “Programme”) by the Government of Ghana (the
“Government”), the Government is set to issue its first United States
Dollar (“USD”) bond in the domestic market under the Programme (the
“Transaction”).
The key rationale for the Transaction is to explore alternative sources of
funding for meeting the financing needs of the Government as well as
further develop and deepen the capital market in Ghana through the
introduction of a new investment product.
The Bond is open to investors resident in Ghana and non-resident
Ghanaian investors, who have USD balances in their Foreign Exchange
Accounts (“FEA”) and Foreign Currency Accounts (“FCA”). The Bond will
be issued in two series: (i) FEA Series; and (ii) FCA Series, to cater
separately to FEA and FCA accountholders. The terms of the FEA Series
and the FCA Series will be identical to each other except that only funds
domiciled in an FEA account can be used to purchase FEA Series Bonds
and only funds domiciled in an FCA account can be used to purchase
FCA Series Bonds.
The Bond will have a 2-year tenor (for both the FEA Series and the FCA
Series). Subscription for the Transaction will open on 03 October 2016 to
close on 13 October 2016. The minimum subscription for investment is
USD10,000 and integral multiples of USD1,000 above the minimum size.
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The Bond will be traded on the Ghana Fixed Income Market (GFIM)
platform.
Barclays Bank Ghana Limited, Stanbic Bank Ghana Limited and
Strategic African Securities Group are Joint Bookrunners on the
Transaction.
For further enquiries in relation to the Transaction, please contact the
representatives of the Joint Bookrunners as highlighted below:
BARCLAYS BANK GHANA LIMITED
Name:Kofi Awuku
Telephone:+233 302662009
Email Address:[email protected]
STANBIC BANK GHANA LIMITED
Name: Randolph Rodrigues
Telephone:+233302610690
Email Address:[email protected]
Name: Kizito Seddoh
Telephone: +233302610690
Email Address: [email protected]
STRATEGIC AFRICAN SECURITIES GROUP
Name: Deborah Akyeampon
Telephone: +233 30 266 1008
Email Address: [email protected]
(Sgd.)
CAROLINE OTOO (MRS)
THE SECRETARY
October 5, 2016