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Republic of Ghana Dual Offering | July 2022 3-Year GHS Denominated Treasury Bond (5-yr Rollover)
and Tap Issue of 5-year Domestic USD Denominated Treasury Bond due November 2026 (Re-
opening of Tender 1772) | Announcement

Tap Issue of 5-year Domestic USD

July 2022 3-Year GHS Denominated
Denominated Treasury Bond due
Treasury Bond (5-yr Bond Rollover)
November 2026

ISSUER: Republic of Ghana Republic of Ghana

SIZE: TBD TBD

ISSUE: Treasury Bonds (the "Notes", "Bonds") Re-opening of USD Denominated

Treasury Bond with ISIN
GHGGOG064908 – FEA Series; and
GHGGOG064916 FCA Series (Tender
1772)
The FEA Series and the FCA Series are
identical to each other except that only
funds domiciled in an FEA can be used
to purchase FEA Series Bonds and only
funds domiciled in an FCA can be used
to purchase FCA Series Bonds

MATURITY: 2025 (3-Year Issuance) N/A

ORIGINAL ISSUE DATE N/A 19th November 2021

FINAL MATURITY N/A 19th November 2026

DATE:

COUPON RATE: N/A 6.00%

CURRENT AMOUNT N/A USD 264,844,150

OUTSTANDING:

SECURITY: Senior Unsecured Senior Unsecured

SECURITY DESCRIPTION N/A 5-Year Domestic USD Treasury Bond:

FEA Series – GOG-BD-19/11/26-A5765-
1772
FCA Series – GOG-BD-19/11/26-A5766-
1772

PRINCIPAL REPAYMENT: Bullet Bullet

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DISTRIBUTION: Marketed to Resident Investors/Open Marketed to Resident Investors/Open

to Non-Resident Investors to Non-Resident Ghanaian Investors

DENOMINATIONS: Each Bond shall have a face value of Each Bond shall have a face value of
One Ghana Cedi One US Dollar

MINIMUM BID: GHS50 Thousand and multiples of GHS1 USD 50 Thousand and multiples of
Thousand thereafter USD5 Thousand thereafter

GOVERNING LAW: Ghana Ghana

LISTING: Ghana Stock Exchange (“GSE”) Ghana Stock Exchange (“GSE”)

ACTIVE BOND MARKET Absa, Black Star, CalBank, Databank, Absa, Black Star, CalBank, Databank,
SPECIALISTS: Ecobank, Fidelity, GCB, IC Securities, Ecobank, Fidelity, GCB, IC Securities,
Stanbic Stanbic

PRICING, BOOKBUILD AND PRICING OFFERING PROCESS: PRICING,

ALLOCATION METHODOLOGY ALLOCATION AND SETTLEMENT
OFFER PERIOD

TUESDAY, 19th JULY 2022 Release of Initial Pricing Guidance Release of Pricing Guidance

WEDNESDAY, 20th JULY Book-build opens 9:00AM Offer opens 9:00AM

2022

THURSDAY, 21st JULY Revised and Final Pricing Guidance
2022 (released as necessary during the Book-
build)
Books are expected to close around
5:00PM on Thursday 21st July 2022
Final Pricing and Allocation
All bids to be received by 5:00PM on
Thursday 21st July 2022
There will be a revised pricing guidance
released to the market

MONDAY, 25th JULY 2022 Settlement/Issue Date Settlement Date

ISSUE METHODOLOGY Book-build format Bids to be accepted on a price basis

Bids accepted on a yield (%) basis
All successful bids will clear at a single
clearing level Discretionary allocation
at the single clearing level in event of
over-subscription
All successful bids will clear at a single
clearing level Discretionary allocation
at the single clearing level in event of
over-subscription