October 18, 2018 / 6:23 PM / a month ago

Ghana sells 988.7 mln cedis ($203.6 mln) domestic bonds at 19.5 pct yield

ACCRA, Oct 18 (Reuters) - Ghana accepted all 988.7 million cedis ($203.6 mln) worth of bids tendered for a three-year domestic bond issued on Thursday and will pay a slightly higher yield of 19.5 percent compared to the last sale, joint transaction leads said.

An initial guide price for the 2021 paper, which was open to non-resident investors, was set at between 18.75 percent and 19.5 percent. Settlement is due on Oct. 22, co-arranger Barclays said.

The West African major commodity exporter is seeking funds to finance its 2018 budget and restructure debt.

$1 = 4.855 Ghanaian cedis Reporting By Kwasi Kpodo; editing by John Stonestreet

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