In Ghana, bids for new four-year bonds reached 4.46 billion cedis — MyJoyOnline
In Ghana, investors submitted bids totaling 4.46 billion Ghanaian cedis at an auction of new four-year treasury bonds. The government accepted bids worth 3.15 billion cedis, representing 70.57% of the total bids submitted, MyJoyOnline reports.
The bid coverage ratio at the auction was 1.41. The bond placement yield was 12%, the lower end of the pre-auction expected range of 12% to 13.5%.
Yield of the new issue
According to the results of the Bank of Ghana auction, the placement yield was approximately 130 basis points higher than the secondary-market benchmark for four-year securities following the Domestic Debt Exchange Programme. This benchmark stood at about 10.7%.
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At the same time, the yield of the new issue was 50 basis points lower than the 12.5% yield on seven-year government bonds placed in March-April 2026.
Placement terms
The cedi-denominated bonds, expected to mature in 2030, were opened for placement on September 1, 2026, through a book-building procedure. They were primarily offered to resident investors, although non-residents were also able to participate.
The bonds are expected to be admitted to listing on the Ghana Stock Exchange. The active bond specialists are Absa Bank, CalBank, Fincap Securities, GCB Bank, OA Capital and Stanbic Bank.
