The government reopens the Domestic Debt Exchange Program invitation to ESLA and Daakye Trust bondholders.
E.S.L.A. Plc and Daakye Trust Plc bondholders have received new invitations from the Ghanaian government urging them to participate in the domestic debt exchange scheme by exchanging their current holdings for a new package.
The Ministry of Finance urged owners of domestic notes and bonds to actively and willingly take advantage of this opportunity in a press release that was released on September 13.
The government announced today that it is reopening its invitation to the exchange that settled in February 2023 (the “February 2023 Exchange”). Accordingly, holders of domestic notes and bonds of the Republic of Ghana, E.S.L.A. Plc, and Daakye Trust Plc are once again invited to tender their holdings of the Eligible Bonds in exchange for a package of New Tranches (as defined below).
The Ministry made it clear that this change is only being given to holders who were prevented from taking part in the February 2023 exchange because of specified delays.
We are aware that certain Eligible Bond holders failed to engage in the February 2023 Exchange in a timely manner, leaving them in possession of their Eligible Bond holdings. We are moving forward with an administrative reopening of the February 2023 Exchange in light of this development.
But the announcement made it clear that this offer is only extended to registered owners of Eligible Bonds, excluding Pension Funds. Additionally, those who submitted Eligible Bonds in preceding invites in GHS-denominated 2023 are no longer eligible.
In order to strengthen Ghana’s ability to repay its debts, the Domestic Debt Exchange Program was launched in December 2022.
Read the entire press release below;
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