The government has announced a new Domestic Debt Exchange Programme (DDEP) for US dollar-denominated bonds targeting to exchange US$ 809 million of the denominated notes and bonds.
A statement issued by the Ministry of Finance stated that “The Government of the Republic of Ghana announced today that it is inviting Eligible Holders to exchange approximately USD 809 millions of its U.S denominated domestic notes and bonds for a package of new bonds to be issued by the Republic”.
According to the Ministry, the invitation to exchange is an arrangement through which holders of Eligible Bonds will submit their holdings of Eligible Bonds governed by Ghanaian law and denominated in U.S.$ dollars (U.S.$) for new benchmark Government of Ghana bonds denominated in U.S.$.
This would be with the same aggregate principal amount (plus applicable capitalized accrued and unpaid interest), and which have in the aggregate a lower average coupon and extended average maturity than the Eligible Bonds.
By: Rainbowradioonline.com/Ghana
