February 8, 2018 / 4:00 PM / 4 months ago

Ghana sells 1.99 bln cedis worth of 5-yr local bonds at 16.5 pct

ACCRA, Feb 8 (Reuters) - Ghana sold 1.99 billion cedis ($448 million) worth of a fresh five-year domestic bond on Thursday and the major commodity exporter will pay a yield of 16.5 percent, joint transaction arrangers said.

Initial guidance for the bond, open to non-resident Ghanaians, was in the range of 15 percent and 16.5 percent. Total bids tendered for the paper were 2.01 billion cedis. ($1=4.445 cedis) (Reporting by Kwasi Kpodo; Editing by Joe Bavier)

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