Business News of Monday, 6 November 2017Source: citifmonline.comEnergy bond unsuccessful after two triesThe government was seeking to raise 6 billion cedis under two separate bondsGovernment failed to meet its target for the first tranche of the energy bond after a second attempt. But it accrued a total of 4.6 billion cedis after it closed the auction last Friday. The 7-year bond received the targeted 2.4 billion cedis while the 10-year bond accrued about 2.2 billion cedis, below the target of 3.6 billion cedis. Government a week earlier auctioned the bond but received low proceeds forcing it to extend the auction by another week. Proceeds of the bond are to be used to clear the debt in the energy sector which as at December 2016 was 2.5 billion dollars.

Source: GhanaWeb November 06, 2017 14:03 UTC