Report from London indicates that Ghana has resumed engagements with investors over moves to raise 1.5 billion dollars from investors there.
The Ghanaian government last recently cancelled the 1.5 billion dollars five-year domestic-market bond-issue this month due to what the Ministry of Financed described only as “recent market developments.”
However, a report by the Reuters News Agency said Ghana has begun marketing, at a yield of 11% area, a US dollar benchmark-sized October 2030 bond.
Order books are now open on the bond, which will have a guarantee from World Bank agency, IDA, for up to 40% of the final size. It is expected to price later on Wednesday, Reuters reported.
The amortising bond has a 14-year weighted average life with three equal redemption payments in October 2028, October 2029 and October 2030.