The government has announced that it has provided an administrative window for eligible holders to tender their eligible bonds and extends the invitation to exchange accordingly.
This was contained in a press statement issued by the Ministry of Finance on Monday in response to feedback received from eligible holders for more time to secure internal approvals to participate in the invitation to exchange due to technical or administrative reasons.
It noted, “The new schedule for the invitation is as follows: Expiration Date: Friday, August 25th, 2023, at 4:00 p.m. (GMT) (the “New Expiration Date”), Announcement Date: On or about Monday, August 28th, 2023, Settlement Date: Friday, September 1st, 2023, or as soon as practicable thereafter, Longstop Date: Monday, September 4th, 2023, unless further extended by Government pursuant to the Invitation.”
The Ministry stated that interest accrual schedules, payment schedules and amortisation schedules for the new bonds would be adjusted to reflect the actual settlement date.
“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 reiterated.
It further advised eligible holders to refer to the Exchange Memorandum or contact the Central Securities Depository (CSD) via Phone: +233302755200, Email: dde@csd.com.gh, and Website: www.csd.com.gh/dde for more information on these procedures.
Joyce Adwoa Animia Ocran, ISD
