News, Politics , Sports, Business, Entertainment, World,Lifestyle, Technology , Tourism, Gh Songs |

Cocobod extends deadline for debt exchange programme to August 3

Cocobod extends deadline for debt exchange programme to August 3

The Ghana Cocoa Board (COCOBOD) has revised the deadline for its debt exchange programme to Thursday August 3 from the initial announcement of August 4 2023.
This, the Board explains is in compliance with the directive regarding the observation of August 4 as a statutory public holiday.
On July 14, the Ghana Cocoa Board (COCOBOD) launched a debt securities exchange programme (cocoa bills) to exchange that for a longer term debt securities.



LEARN AND TRADE FOREX WITH GOLIGFX WATCH THE VIDEO BELOW:

Participation in this invitation to exchange is however voluntary.

Notwithstanding the invitation to exchange eligible bills for the new bonds, COCOBOD, in its sole discretion, may settle the eligible bills in full or in part and the eligible holders’ subscription to receive new bonds is voluntary.

COCOBOD is offering Eligible Holders accrued and unpaid interest (“Accrued Interest Payable”) on their Eligible Bills validly tendered and accepted by the COCOBOD, calculated from and including the last interest payment date up to, but excluding, the Settlement Date, which amount will be paid to such Eligible Holders in the form of capitalized interest (rounded down to the nearest GHS1.00) added to the principal amount of the New Bonds and distributed across the New Bonds in the same proportion as the Exchange Consideration Ratios (as defined) set forth in the table below.

Eligible Holders whose validly submitted Offers are accepted by the COCOBOD will receive on the Settlement Date the New Bonds with an aggregate principal amount (rounded down to the nearest GHS1.00) equal to the principal amount of Eligible Bills tendered plus Accrued Interest Payable, which aggregate principal amount will be allocated in accordance with the consideration ratios described in the New Bonds and Exchange Consideration per principal amount of Eligible Bills tendered (including the Accrued Interest Payable in respect thereof).

Eligible Holders whose offers or exchange instructions are accepted will receive the five New Bonds in the above-mentioned ratios, each maturing on a one per year basis consecutively from and including 2024 through and including 2028.

As is customary with listed corporate securities, the New Bond Documentation does not restrict the ability of the New Bonds to be traded or transferred in the secondary markets.

Click here to find full details of the statement.

 

Source:citibusinessnews.com

Exit mobile version