ACCRA, Sept 8 Ghana accepted 314.1 million cedis
($79.2 mln) worth of bids for a three-year domestic bond with at
a slightly lower yield of 24.0 percent, transaction arrangers
said on Thursday.
Proceeds of the bond, which was open to offshore investors,
will be used to finance the government's 2016 budget. Total bids
received amounted to 414.1 million cedis, lead arranger Barclays
Bank Ghana said.
The bond, sold through a book-builder's system arranged by
Barclays Bank, Stanbic and broker Strategic African Securities
had a pricing range of 23.0 percent to 24.5 percent.
Ghana is following a three-year $918 million aid deal with
the International Monetary Fund to help restore fiscal balance
to an economy dogged by deficits, high public debt and high
The West African country sold 303 million worth of bids in
May through a similar transaction and obtained a yield of 24.5
($1 = 3.9647 Ghana cedis)
(Reporting by Kwasi Kpodo; Editing by Matthew Mpoke Bigg and