The Deputy Finance Minister, John Kumah has stated that individual bondholders who do not sign up to the Domestic Debt Exchange Programme will receive full payment for their coupons upon maturity.
Ho noted however that exempting themselves from the programme might do them more harm than good, because they will not be able to trade their bonds before the maturity date.
“Let me advise those who want to hold on to the old bonds, you have to hold on till end of maturity. So if your bond will end in 2027, please no matter your situation don’t try to sell it because there will be no market for the old bonds, we are transitioning all the bonds to the new ones”, he stated.
Dr Kumah said this on Joy FM’s Super Morning Show, on Wednesday.
He also noted that as much as the coupon payment for the individual bondholders who exempt themselves is guaranteed, it is still dependent on how successful the new programme will turn out.
“It’s guaranteed, once we have promised we have to deliver, but we are able to give that assurance because others are willing to come to the new market but if everybody says we are staying in the old market we can’t honour it,”, the Deputy Finance Minister indicated.
Dr Kumah therefore urged individual bondholders and others to sign up for the Debt Exchange Programme in order to collectively improve on the current economic situation.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
