CalBank PLC. has brought forward the deadline for application to partake in the Cocoa Bills Debt Exchange Programme.
The Ghana Cocoa Board (COCOBOD), on July 14, 2023, launched the Cocoa Bills Debt Exchange Programme, inviting holders of its short-term debt securities to voluntarily exchange their bills for long-term debt securities.
The maturity date for principal under the programme will also be extended to long-term, COCOBOD indicated.
The offer period for the exchange programme had commenced on July 14, 2023 and was scheduled to end on August 4, 2023.
However, following the declaration of August 4 as a statutory public holiday, CalBank, in a statement, indicated that the deadline for participation is now August 3, 2023.
“In compliance with the directive regarding the observation of 4 August 2023 as a statutory public holiday, we urge all persons who intend to participate in the Exchange Programme to submit their applications by 4pm on 3 August 2023 (instead of 4 August 2023, which is now a public holiday),” it said in the statement.
But the deadline change, the bank stated, does not affect all other dates on the timetable for the exchange programme.
“All other dates in the transaction timetable as outlined in the Exchange Memorandum remain unchanged unless otherwise extended by COCOBOD (in its sole discretion and with the prior approval of the Securities and Exchange Commission)”.
