Ghana will sell more five-year bonds in December following today’s offering of the maturity, its first since June 2007 to develop infrastructure in West Africa’s second-biggest economy after Nigeria.
The Bank of Ghana plans to auction 200 million cedis ($133 million) of the debt, it said in an issuance calendar on its website today. It offered 300 million cedis of the same duration today.
The bank will also sell 300 million cedis of three-year bonds in October, its fourth this year of the maturity in 2011, according to the calendar. The offerings in February and April were oversubscribed, while in June the Accra-based bank failed to meet its target.
The three-month borrowing costs of the world’s second- biggest cocoa producer have retreated to 10.2 percent, the lowest in at least four years, as inflation slows. The cedi, which reached the weakest in at least 17 years against the dollar on Feb. 3, has strengthened 5.1 percent since then.
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