Ghana's Petrosol Bond Is 1.8 Times Oversubscribed as Bids Reach GH¢178m (US$15.9m)

GHANA · MARKETS

Key Facts

—The number: Petrosol Platinum Energy drew bids of GH¢178.074 million (US$15.9 million) against a GH¢100 million (US$8.9 million) target. That is a subscription rate of 178 percent, or 78 percent oversubscribed.

—Not a GH¢178m (US$15.9m) bid book: The company raised GH¢100 million (US$8.9 million), the amount it asked for. The larger figure is the total of the bids it received.

—The programme: The issue is the maiden drawdown under a GH¢200 million (US$17.9 million) note issuance programme. The balance remains available for later series.