Business News of Wednesday, 20 March 2019Source: Graphic.com.ghGovernment raises $3bn in Eurobonds - Received orders totaling $21 billionKen Ofori-Atta, Finance MinisterThe government has raised $3 billion from international financial institutions through a three-tranched Eurobond which attracted more bids than the country asked for. At the close of a road show in London yesterday, the appetite for the 2019 sovereign bond had swelled, resulting in orders totalling $21 billion – about seven times more than the amount needed. This heightened impetus enabled the book runners to negotiate attractive interest rates on the long-term loan instruments. The Daily Graphic gathered that the government issued three separate bonds with maturity terms of seven, 12 and 31 years. Govt raises $3bn in Eurobonds - Received orders totalling $21 billionCapital flightProf. Quarter, who is at the University of Ghana, Legon, said the oversubscription was a confirmation of current ratings on the economy.

Source: GhanaWeb March 20, 2019 06:56 UTC