Source: newsthemegh.com
Bondholders of E.S.L.A. Plc and Daakye Trust Plc now have a new option to take part in the domestic debt exchange scheme, according to the government.
The Ministry of Finance urged owners of domestic notes and bonds to seriously examine and accept this invitation in a news release dated September 13.
In accordance with the press release, the government is reopening the invitation known as the “February 2023 Exchange,” which was initially resolved in February 2023.
This reopening invites holders of domestic notes and bonds issued by the Republic of Ghana, notably those issued by E.S.L.A. Plc and Daakye Trust Plc, to exchange their bonds for new bonds that meet the requirements. In exchange, they will receive a collection of fresh issues of the same government bonds, dubbed the “New Bonds,” which were included in the February 2023 Exchange. This updated invitation is known as the “Invitation.”
According to the Ministry of Finance, this offer intends to give holders who were unable to take part in the February 2023 exchange due to various delays or reasons the chance to do so.
The press statement emphasized that registered holders of Eligible Bonds who are not Pension Funds are the only ones who may participate in this offer.
However, it stated that you are no longer eligible to take part in this Invitation and are no longer regarded as an Eligible Holder if you previously tendered Eligible Bonds in either of the two prior GHS-denominated invitations for exchange carried out by the Government in 2023, namely the February 2023 Exchange or the Pension Fund Alternative Offer in August 2023.
In order to restore Ghana’s ability to manage and service its debt, the Domestic Debt Exchange Program was launched in December 2022. With this new chance, bondholders can reassess their positions and take part in the exchange, which will help the government manage its debt.