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Ghana to sell seven-year domestic bond to secure $168 million
The government plans to borrow a total 11.32 billion cedis ($2.54 bln) locally during the second quarter of this year, of which 8.74 billion cedis will be used to roll over maturing debt, finance ministry data shows.
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Order books will be opened on Wednesday with final pricing on Thursday and settlement on April 16, joint book-builder Barclays Bank Ghana said. Other arrangers are local lenders Databank, Fidelity, Stanbic bank and financial house ICSecurities.
Non-resident Ghanaians will be allowed to purchase the bonds.
The government has also obtained parliamentary approval to issue up to $2.5 billion of sovereign debt, including a $1 billion Eurobond, by the end of this month.
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The West African country is in the final year of a $918 million credit deal with the International Monetary Fund aimed at restoring the public finances, including lowering public debt which hit 69.8 percent of gross domestic product in December.
Reuters
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