BANK OF GHANA
NOTICE NO. BG/TD/2015/02
ISSUANCE CALENDAR FOR GOVERNMENT OF GHANA SECURITIES : JANUARY 1, – JUNE 30, 2015
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, 2015 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 |
| 2015 | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M | GH¢'M |
| January | 960.00 | 960.00 | 800.00 | 800.00 | - | 3,520.00 | ||
| February | 960.00 | 960.00 | 800.00 | 800.00 | 630.00 | 4,150.00 | ||
| March | 1,200.00 | 1,200.00 | 1,000.00 | 1,000.00 | - | 440.00 | 4,840.00 | |
| April | 960.00 | 960.00 | 800.00 | 800.00 | - | 440.00 | 3,920.00 | |
| May | 960.00 | 960.00 | 800.00 | 800.00 | 630.00 | 4,150.00 | ||
| June | 1,200.00 | 1,200.00 | 1,000.00 | 1,000.00 | - | 440.00 | 4,840.00 |
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 or not to roll over.
(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¢880.00 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 and also be listed on the Ghana Stock Exchange (GSE) alongside the 3-Year and 5-Year and 7- Year GOG Fixed Rate 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 foreign investors.
(vi) The 3-Year, 5-Year and the 7-Year GOG Fixed Rate Bond shall, however, be available to both resident and non-resident investors.
(vii) Auction for the 3- Year, 5-Year and the 7-Year GOG Fixed Rate Bond 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 week's issuance.
All enquiries on this Notice should be directed to:
The Head
Treasury Department
Bank of Ghana
Accra
(Sgd.)
CAROLINE OTOO
THE SECRETARY
January 6, 2015
