BANK OF GHANA
NOTICE NO. BG/TD/2014/01
ISSUANCE CALENDAR FOR GOVERNMENT OF GHANA SECURITIES 1ST JANUARY, – 30TH JUNE, 2014
The Bank of Ghana announces for the information of all Primary Dealers, Banks, Stockbrokers and the General Public; the Issuance Calendar for Government of Ghana Securities for the period January 1, – June 30, 2014
by the Government of Ghana.
This notice is to guide prospective investors and to promote transparency in the Domestic Securities Market. The following instruments would be eligible and available at weekly auctions to be conducted under various tenders:
| Month | 91-Day | 182-Day | 1-Year | 2-Year | 3-Year | 5-Year | 7-Year | Total |
| 2014 | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M |
| January | 550.00 | 550.00 | 500.00 | 500.00 | - | - | - | 2,100.00 |
| February | 440.00 | 440.00 | 400.00 | 400.00 | 402.00 | - | - | 2,082.00 |
| March | 440.00 | 440.00 | 400.00 | 400.00 | - | 300.00 | - | 1,980.00 |
| April | 440.00 | 440.00 | 400.00 | 400.00 | 400.00 | - | - | 2,080.00 |
| May | 550.00 | 550.00 | 500.00 | 500.00 | - | - | 300.00 | 2,400.00 |
| June | 440.00 | 440.00 | 400.00 | 400.00 | 400.00 | - | -- | 2,080.00 |
It should be noted that:
(i) Amounts are indicative and subject to confirmation on publication of Issue Notice. The Ministry of Finance and Economic Planning and the Bank of Ghana reserve the right to amend details as and when the need arises.
(ii) The Treasury Bills and Notes (91-Day Treasury Bills – 2-Year Notes) are short term debt securities. Issuance decisions will be made weekly depending on Government’s projected daily cash position for the week ahead.
It is envisaged to issue at least GH¢440.00 million of Treasury Bills and Notes weekly at all times to support Government liquidity requirements which will include the redemption (rollover) of maturing securities for the week.
iii) Auction for the issue of Treasury Bills and Notes will be held on Fridays (or the last day of the working week) and settlement is T+1 (or the first day of the working week following the Auction).
(iv) The 2-Year Notes will be issued on weekly basis from 2014. The 2-Year Treasury Notes are listed on the Ghana Stock Exchange (GSE) alongside the 3-Year and 5-Year and 7- Year Bonds.
(v) The short-term Treasury Bills and Notes (91-Day Treasury Bill, 182-Day Treasury Bill, 1-Year Note and 2-Year Note) are available to residents ONLY and shall NOT be available to non-resident investors.
(vi) The Fixed Rate Bond of 3-Year tenor and above shall, however, be available to both resident and non-resident investors.
(vii) Auction for Fixed Rate Bond of 3- Years tenor and above shall be held on Thursdays (or the last working day of the week) and settlement shall be T+2 (or the first day of the working week after the auction). The Prospectus shall be published at least two weeks before the issue date.
The Bank of Ghana will accordingly notify the General Public through the electronic and print media to submit bids through the appropriate Primary Dealers (PDs) before any issuance.
All enquiries on this Notice should be directed to:
The Head
Treasury Department
Bank of Ghana
Accra
(Sgd.)
ANDREW BOYE-DOE
THE SECRETARY
January 2, 2014
