ACCRA (Reuters) – Ghana is paying holders of its 2023 government bonds a 2% cash fee in exchange for participating in an exchange for long-term domestic debt, a finance ministry document said on Wednesday. said in
The crisis-hit country launched a modified exchange offer on December 24, extending the deadline for bondholders to accept the offer to January 16, although the full breakdown of coupons and other details was not available. not clarified.
It also said that in December, eight additional securities would be created, bringing the total number of new bonds to 12, with one maturing each year from 2027 to 2038.
Holders of 2023 bonds are only eligible to receive bonds maturing between 2027 and 2033, the ministry said.
“Given that holders of eligible 2023 bonds have been asked to extend the maturity of what is currently a short-term security in nature, investors should be aware that such 2023 bonds that have been tendered and accepted We will receive a cash bid fee of 2% of the unpaid amount.” Document.
The ministry also detailed the coupon structure of 12 bonds set at 0% in 2023 and 5% in 2024. For a problem due in 2038.
“The new bond’s modified coupon structure is designed to mimic a standard-shaped yield curve,” it said.
The Government of Ghana has negotiated a staff-level agreement for a $3 billion loan package from the International Monetary Fund to ease the ongoing economic crisis. This will only be approved if a comprehensive debt restructuring has taken place.
Reported by Christian Accory. Written by Nellie Payton and Karin Strohecker.Edited by Richard Chan
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