Asante Gold receives approval from the Securities and Exchange Commission of Ghana and the Ghana Stock Exchange

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Asante Gold Corporation has received approval from the Securities and Exchange Commission of Ghana and the Ghana Stock Exchange to offer up to GH¢6.29 billion ($400 million) in debt securities on the Ghana Fixed Income Market (GFIM).

The bond issuance according to Asante Gold in a statement to the SEC and the GSE, will be indexed to the USD/GHS exchange rate, further asserting that prospective investors in the company’s debt securities may include in-country pension funds, commercial banks, high net worth individuals, and international investors.

According to Asante Gold, proceeds from the bond offering will be used for the funding of growth initiatives and operating expenditures at the Bibiani and Chirano mines, acquisition opportunities, and refinancing of the company’s liabilities. 

Source: newsthemegh.com