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Auction of Energy Bond begins today

The government will today begin the auction of the Energy Bond as it seeks to offset the legacy debts of the energy sector in order to create space for increased investment.

The auction is to allow interested individuals and institutions to bid for the bond to be used to clear the estimated 10 billion cedis debt in the sector.

The first tranche is expected to raise some 6 billion cedis scheduled to be done through a book building approach.

Government on Monday, October 23, 2017 concluded the two road shows for the energy bond to clear the 2.5billion dollar energy sector debt.

The debt is estimated at 2.5 billion dollars the equivalent of some 10 billion cedis.

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