Source: newsthemegh.com
The government has made the announcement that it has extended the invitation to exchange and has provided an administrative opportunity for eligible holders to surrender their eligible bonds.
This information was provided in a press release released by the Ministry of Finance in response to comments made by qualified holders who needed more time to get internal authorization to take part in the invitation to exchange due to administrative or technological issues.
“The new schedule for the invitation is as follows,” it stated. The following dates apply: Expiration Date: Friday, August 25, 2023, at 4:00 p.m. (GMT) (the “New Expiration Date”), Announcement Date: On or around Monday, August 28, 2023, Settlement Date: Friday, September 1, 2023, or as soon as practically possible afterward, and Longstop Date: Monday, September 4, 2023, unless further extensions are granted by the Government in accordance with the Invitation.
The Ministry said that the real settlement date would be reflected in the new bonds’ interest accrual, payment, and amortization schedules.
“Any eligible holders whose eligible bonds are held on its behalf by a broker, dealer, bank, custodian, trust company, or other nominee must contact such entity if it wishes to participate in the invitation, as such entities may establish an earlier deadline to receive instructions to tender Eligible Bonds”, it was emphasized.
For more information on these procedures, it further recommended qualified holders to consult the Exchange Memorandum or get in touch with the Central Securities Depository (CSD) at +233302755200, [email protected], or www.csd.com.gh/dde.