BANK OF GHANA
NOTICE TO PRIMARY DEALERS, BANKS, STOCKBROKERS, AND THE GENERAL PUBLIC
NOTICE NO. BG/TD/2016/...
ISSUANCE CALENDAR FOR GOVERNMENT OF GHANA SECURITIES FOR MAY 2016
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 May 2016 as follows:
| Instrument |
Amount (GH¢ M)
|
AV. Weekly Issue | Settlement Date | Issuance Method |
| 91-Day T/Bill | 2,300.00 | 460.00 | Primary Auction | |
| 182-Day T/Bill | 1,920.00 | 384.00 | Primary Auction | |
| 1-Year Note | 100.00 | 50.00 | 2nd & 16th May 2016 | Primary Auction |
| 1-Year Note | 200.00 | 16th May, 2016 | Tap/reopen on 3-Year maturing 29th May 2017 | |
| 2-Year Note | 250.00 | 9th May, 2016 | Primary Auction | |
| 2-Year Note | 200.00 | 23rd May, 2016 | Tap/reopen on 3-Year maturing 21st Mayl 2017 | |
| 3-Year Fixed Rate Bond | 500.00 | 30th May, 2016 | Primary Auction | |
| TOTAL | 5,520.00 |
The aggregate borrowing for the month of May 2016 is GH¢ 5,520.00 million , to cover maturities of GH¢ 5,229.95 million. Net issuance during the month is therefore GH¢ 290.05 million.
The issuance frequency for the bills, notes and bonds is as follows:
The 91-day and 182-day bills will be issued weekly in average amounts of GH¢ 4600.00 million and GH¢ 384.00 million, respectively ;
For the 1- Year Note, an amount of GH¢ 200.00 million will be issued through tapping/reopeing of the 3-Year bond maturing on 29th May, 2017. The remaining amount of GH¢ 100.00 million will be issued through the primary auction in average amount of GH¢ 50.00 bi-weekly.
Also for the 2-Year Note, an amount of GH¢ 250.00 million will be issued through tapping/reopening of the3-Year bond maturing 21st May, 2018. The remaining amount of GH¢ 250.00 million will be issued through the primary auction available to resident and non-resident investors.
3-Year Fixed Rate Bonds will be issued through the normal auction process and available to resident and non-resident investors.
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) These instruments may be reopened to create liquidity in the instrument.
All enquiries on this Notice should be directed to the Head, Treasury Department, Bank of Ghana, Accra.
(Sgd)
CAROLINE OTOO (MRS)
THE SECRETARY
MAY 5, 2016
Source: Bank of Ghana
