BANK OF GHANA
NOTICE TO PRIMARY DEALERS, BANKS, STOCKBROKERS, AND THE GENERAL PUBLIC
NOTICE NO. BG/TD/2016/18
ISSUANCE CALENDAR FOR GOVERNMENT OF GHANA SECURITIES FOR APRIL 2016
In accordance with the Government's Medium Term Debt Strategy, the Bank of Ghana, on behalf of the Ministry of Finance, announces for the information of Primary Dealers, Banks, prospective investors in the domestic securities market and the general public, the Issuance Calendar for Government of Ghana Securities for April 2016 as follow:
| Instrument |
Amount (GH¢ M)
|
AV. Weekly Issue | Issuance Method |
| 91-Day T/Bill | 2,000.00 | 500.00 | Primary Issue |
| 182-Day T/Bill | 1,700.00 | 425.00 | Primary Issue |
| 1-Year Note | 100.00 | 50.00 | Primary Issue |
| 1-Year Note | 170.00 | Tap/reopen on 3-Year maturing 24th April 2017 | |
| 2-Year Note | 250.00 | Primary Issue | |
| 2-Year Note | 200.00 | Tap/reopen on 3-Year maturing 23rd April 2018 | |
| 3-Year Fixed Rate Bond | 500.00 | Book-Building | |
| TOTAL | 4,920.00 |
The aggregate borrowing for the month of April 2016 is GH¢ 4,920.00 million , to cover maturities of GH¢ 4,021.66 million. Net issuance during the month is therefore GH¢ 898.34 million.
The frequency of issue o the instrument is as follows:
91-day and 182-day bills will be issued weekly;
1- Year Note will be issued at the primary auction every 2 weeks (bi-weekly) in an average amount of GH¢ 50.00 million every auction. Additionally on 14th April, 2016 an amount of GH¢ 170.00 million will be issued through tapping/reopening of the 3-Year bond maturing 24th April, 2017 and this will be available to resident and non-resident investors.
2-Year Note will be issued through the primary auction once in the month in amount of GH¢ 250.00 million. Additionally amount of GH¢ 200.00 million will be issued on 26th April through tapping/ reopening of the 3-Year bond maturing 23rd April, 2018 and will be available to resident and non-resident investors.
3-Year Fixed Rate Bonds will be issued through the Book-Building process.
It should be noted that:
(i) The Ministry of Finance and the Bank of Ghana reserve the right not to roll-over maturing instruments, and to amend these details as and when the need arises.
(ii) Auction for the 91-day and 182-day Treasury bills, the 1-year and 2-year notes will be conducted on Fridays (or the last day of the working week) and settlement is T+1 (or the first working day of the week following the auction).
(iii) Settlement of the reopening of the 3-year Bonds will be T+2
(iv)The Treasury Notes and Bonds may be re-opened to create liquidity in the instruments.
All enquiries on this Notice should be directed to the Head, Treasury Department, Bank of Ghana, Accra.
(Sgd)
CAROLINE OTOO (MRS)
THE SECRETARY
April 5, 2016
Source: Bank of Ghana
