THE Ministry of Finance in anticipation of settlement of the Domestic Debt Exchange Programme (DDEP) has announced the aggregate principal amounts for new bonds.
“New Bonds will be credited to the holder’s securities account at the Central Securities Depository (CSD) from, which their Eligible Bonds were tendered,” the Ministry said in a statement.
The Ministry indicated that Category A bonds with maturity in 2027 and 2028 would have a principal of GH₵3 billion (GH₵3,055,140,275) while Category B bond with maturity in the same periods would have a principal of GH₵224 million (GH₵224, 149, 240).
New General bonds with maturity in 2027 and 2028 will have a principal of GH₵8.8 billion (GH₵8,836,977,978).
Also, Bonds with maturity in 2029 and 2030 will have a principal of GH₵8.5 billion (GH₵8,582,293,671).
Bonds under the same category with maturity from 2031 to 2033 will have a principal of GH₵8 billion (GH₵8,024,880,880)
However, new Bonds with maturity from 2034 to 2038 will have a principal of GH₵4.4 billion (GH₵4,459,301,131).
50% exchange consideration ratio for 2027 and 2028 category A, B bonds
The Ministry also said the exchange consideration ratio in respect of eligible bonds tendered by category A and Category B holders, which are due in 2027 and 2028 will be 50%
14% exchange consideration ratio for General Category Holders
The exchange consideration ratio in respect of eligible 2023 bonds tendered by General Category Holders with due date in 2027 and 2028 is 15 per cent while those due from 2029 to 2033 is 14%.
Eligible post-2023 bonds due in 2027 to 2030 are nine per cent exchange consideration ratio while those due from 2031 to 2038 attract eight per cent exchange consideration ratio.
According to the Amended and Restated Exchange Memorandum dated February 3, 2023, Category A Holders consist of Eligible Holders that are Collective Investment Schemes or natural persons below the age of 59 years old as of 31st January 2023.
Category B Holders on the other hand consist of Eligible Holders that are natural persons 59 years old or older as of 31st January 2023.
Meanwhile, General Category Holders consist of Eligible Holders that are not Category A Holders or Category B Holders, which may include corporate entities and financial institutions not contained within the definition of Collective Investment Schemes.
