Source: newsthemegh.com
According to the Central Securities Depository, 92% of bondholders who were qualified to take part in the invitation to exchange submitted their eligible bonds for tender, according to a statement from the Ministry of Finance.
It was said that the capitalized terms used “but not defined herein” have the same meanings as those given to them in the Exchange Memorandum (as amended from time to time), which is accessible at https://projects.morrowsodali.com/GhanaDDE and https://mofep.gov.gh/news-and-events/debt-operations.
The majority of eligible holders have tendered, according to the administration, which is pleased with the results.
In light of the current economic crisis, this outcome represents a significant accomplishment for the government in its efforts to fully execute the economic initiatives in the PC-PEG (Post-COVID-19 Programme for Economic Growth).
The announcement read, “The Government is extending the Settlement Date of the Exchange from the previously announced 1st September 2023 to 4th September 2023 to provide sufficient time to settle the New Bonds in an efficient manner.”
Except as stated in this paragraph, the terms and conditions of the Invitation to Exchange are not changed or amended, it said. “The issue date, interest accrual schedules, and payment schedules for the New Bonds will be adjusted to reflect the actual Settlement Date.”
The ministry advised bond holders to refer to the Exchange Memorandum or get in touch with the Central Securities Depository (CSD) for more information, stating that no new tenders would be accepted after the Invitation Period has ended and that no revocations or withdrawals are allowed.
The Domestic Debt Exchange Programme (DDEP) has received tremendous support from bondholders and other important stakeholders, for which the government extends its sincere gratitude.