bondholders

07 Feb

Full Text: Finance Minister’s Speech On DDEP Deadline Eve

wontumionlineBusinessbondholders, Domestic Debt Exchange Programme (DDEP), Finance Minister, Ken Ofori Atta

Finance Minister Ken Ofori-Atta addressed the nation on Monday recommending that bondholders accept the Domestic Debt Exchange Programme (DDEP) otherwise, reviving the economy will be a Herculean task for Akufo-Addo’s government. He stated that Tuesday, February 7, 2023, deadline for signing up for the Programme will not be extended. Read his full speech below; Good Evening Ladies and Gentlemen: On Monday5thDecember,2022, Government launched the Ghana Domestic Debt Exchange Programme as part of a broader response to recent macroeconomic challenges. At that time, we indicated that the Debt Exchange Programme had been informed by the Debt Sustainability Analysis which revealed that:…

12 Jan

Bondholders To Receive 2% Cash Fee In Domestic Debt Exchange – Finance Ministry

wontumionlineBusinessbondholders, Finance Ministry, Invitation to Exchange

Participating holders of the 2023 bonds will receive a 2% cash fee, the Finance Ministry has said. This is to compensate for the maturity extension. It said the investors will only get new bonds maturing between 2027 and 2033. “Given that holders of Eligible 2023 Bonds are being asked to extend the maturities of what are now effectively short-term instruments, investors will receive a cash tender fee of 2% of the outstanding amount of such 2023 Bonds tendered and accepted, to compensate for the maturity extension”, it explained In the Amendments to the Invitation to Exchange. It emphasised that the…