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DEBUT USD DENOMINATED DOMESTIC BOND ISSUANCE

Oct. 3, 2016  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.
 
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 Limited 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 30 266 2009
Email  Address: kofi.awuku@barclays.com

Stanbic Bank Ghana Limited

Name: Randolph Rodrigues
Telephone: +233 30 261 0690
Email  Address: rodriguesr@stanbic.com.gh
 
Name: Kizito Seddoh
Telephone: +233 30 261 0690
Email Address: seddohk@stanbic.com.gh

Strategic African Securities Limited

Name: Deborah Akyeampon
Telephone: +233 30 266 1008
Email  Address: deborah.akyeampon@sasghana.com

 

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