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Government’s 15-Year Callable Bond Issuance in March, 2017

ISSUER:                              

Republic of Ghana

SIZE:                                  

GHS [To Be Determined]

ISSUE:                               

Treasury Bonds (the "Notes", "Bonds")

MATURITY:                      

2032 (15-year issuance)

SECURITY:                         

Senior Unsecured

PRINCIPAL REPAYMENT:

Bullet

CALL

At the Issuer’s discretion, this note is callable in the 5th, 6th, 7th, 8th, 9th or 10th year post issuance date

DISTRIBUTION:

Marketed to Resident Investors/Open to Non-Resident Investors

DENOMINATIONS:              

Each Bond shall have a face value of One Ghana Cedi

MINIMUM BID

GHS50 Thousand and multiples of GHS1 Thousand thereafter

GOVERNING LAW:              

Ghana

LISTING:                             

Ghana Stock Exchange (GSE)

ACTIVE JOINT BOOKRUNNERS:        

Barclays, SAS, Stanbic

   

PRICING, BOOKBUILD AND ALLOCATION METHODOLOGY

OFFER PERIOD

 

THURSDAY 30TH MARCH 2017

Release of Initial Pricing Guidance

 

FRIDAY 31ST MARCH 2017

Book-build opens 9:00AM

 

Revised Pricing Guidance (released as necessary during the Book-build)

 FRIDAY 31ST MARCH 2017

 

Revised and Final Pricing Guidance (released as necessary during the Book-build)

 

Books to close on short notice on Friday p.m.

 

Final Pricing and Allocation

 

MONDAY 3RD APRIL 2017

Settlement/Issue Date

 

ISSUE METHODOLOGY

Book-build format

 

Bids accepted on a yield (%) basis

 

All successful bids will clear at a single clearing level

 

Discretionary allocation at the single clearing level in event of over-subscription

     

 

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