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Business News of Wednesday, 13 February 2008

Source: GNA

Government's bonds listed on GSE

Accra, Feb. 13, GNA - Government's two-year, three-year and five-year Bonds issued last year have been officially listed on the Ghana Stock Exchange (GSE) for trading, a GSE statement issued on Wednesday said.

The two-year and three-year bonds were issued between August 6 and December 31, 2007 whilst the five-year bond was issued on December 17 that year, with half yearly interest payment from the date of issue. The two and three years bonds titled "GoG 2-Year Fixed Rate Note" and "GoG 3-Year Fixed Rate Note" have total value issue of 60,412,933 GH cedis and 73,552,000 GH cedis respectively.

The 2-Year Note has a 12.8 percent per annum Coupon Rate and a maturity date spanning August 3 to December 28, 2009.

The 3-Year Note on the other hand has a 13 percent Coupon Rate for the first issue and 13.95 percent for the second issue per annum and a maturity date from August 2, 2010 and December 13 2010.

The 5-Year Fixed Treasury Note valued at 50,732,000 GH cedis has a 15 percent Coupon Rate, half yearly interest payment and a maturity date of December 10, 2012.

Whereas the 2-Year Note was not opened to foreign participation, the 3-Year and 5-Year Notes were opened to Non-Resident Foreigners (NRF). Of the three issues, eight percent withholding tax on interest income would be paid by corporate holders, whilst interest to individuals would not attract any tax.