*From sale of  oversubscribed   6-year bond

Story: Peace AWUKU

Government has  secured ¢1.24 billion from the sale of the 6-year bond issuance, which was oversubscribed by 24%.

This is coming after an improved demand for the sale of Treasury bills, following fluctuation in the short term debt instrument in recent times.

Today Newspaper learnt that the interest rate of 18.80%t was within the prevailing market condition, but at the upper end.

The funds secured are expected to finance part of this year’s budget and settle some maturing debts.

Analysts said  the market had been favourably conditioned, in the past few weeks, with some demand and lower interest rate expectations.

The 6-year bond was opened to both resident and non-resident investors.

Absa, Black Star, CalBank, Databank, Ecobank, Fidelity, GCB, IC Securities and Stanbic were the active bond market specialists.