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PR. 410/2016 LISTING AND TRADING OF GOVERNMENT OF GHANA NOTES ISSUED IN NOVEMBER 2016

By December 22, 2016February 14th, 2023No Comments

Listing

The Exchange has admitted to the Ghana Fixed Income Market (GFIM), notes issued by the   Government of Ghana in November 2016.

Background Information

Details of the notes are as follows.

Title

 

1-Year Notes

2-Year Notes

Issuer

 

Government of Ghana

 

Government of Ghana

Total Value Issued

 

 

GH¢501,832,500

 

 

GH¢312,042,165

Coupon Rate

 

23.00% and

22.25% per annum

23.00% per annum

Issue Date

 

 

 

 07/11/2016

21/11/2016

 

14/11/2016

Maturity Date

                        

 

 

 

 

                                             

06/11/2017

20/11/2017

 

12/11/2018

 

Interest Payment 

 

Half yearly from issue date

Half yearly from issue date

                                           

Non-Resident Foreign (NRF) Investors Participation

The Bank of Ghana has confirmed that participation in Government of Ghana fixed income securities is open to non-resident foreigners (NRF) in respect of securities with tenor of two years and above.

Registration

The Central Securities Depository Ltd will be in charge of registration.

Tax

The Income Tax Act of 2015 (Act 896) requires the withholding of tax in respect of interest payments at the   applicable rate of tax.

 Issued at Accra on December 20, 2016. 

 Attachment