Business News of Saturday, 2 February 2019Source: bloomberg.comGhana to start $403m debt sale for GAT Febuary 18Eric OtooGhana will start a debt sale next month to prop up lenders as authorities seek GH¢2 billion ($403 million) in finance for banks undercapitalized banks. The government created a special-purpose vehicle known as Ghana Amalgamated Trust, or GAT, which will use the debt sale’s proceeds to purchase shares in five lenders and help them meet a minimum capital threshold of GH¢400 million. GAT will then seek to exit the holdings through buy-outs or listings on the local bourse, he said. The five lenders that will receive funding from GAT didn’t meet the capital threshold but are soundly managed, said Otoo. A roadshow for the debt sale will start Feb. 18, Mr Otoo said.

Source: GhanaWeb February 02, 2019 01:52 UTC