The Ghana Cocoa Board (COCOBOD) has changed the closure date of its debt securities exchange programme from August 4 to August 3, 2023. The revision was made due to a statutory public holiday on the initial closing date.
According to a statement from COCOBOD, the Minister of Interior declared August 4, 2023, as a statutory public holiday throughout the country. To comply with this directive, COCOBOD urged all participants in the Exchange Programme to submit their applications by 4 pm on August 3, 2023.
Read also
However, the statement clarified that all other dates in the transaction timetable, as outlined in the Exchange Memorandum, remained unchanged.
On July 14, COCOBOD launched a voluntary debt securities exchange programme aimed at optimizing the funding structure of Ghana's cocoa sector regulator.
The program allows for a swap of debt securities with new ones at lower coupon rates and will see COCOBOD issue longer-term bonds with an aggregate principal amount of approximately GHS7.93 billion available between 2024 and 2028.
Under the program, holders of Cocoa Bills whose offers are accepted will receive five different bonds with an aggregate principal amount equal to the principal amount of Cocoa Bills tendered. These bonds will mature consecutively from 2024 to 2028 on a one-per-year basis.
The principal amount of the bonds will be rounded down to the nearest GHS1.00, equivalent to the principal amount of the Cocoa Bills tendered, and any accrued and unpaid interest due on the Cocoa Bills will also be factored into the exchange, as explained by COCOBOD.
Thanks for reading this story, your comments are welcome; share them in the comments section below.
Send us your press releases and news stories at [email protected], or via WhatsApp on +233550919202.
We appreciate your support for The Ghanaian Standard and our role in stemming disinformation; Kindly consider making a donation of any amount to help cover the cost of quality journalism by clicking here .
Follow GhStandard on 
