Gov’t completes successful Eurobond roadshow; deal to be announced soon

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The government will, in the coming days, issue Ghana’s 2018 sovereign bond after a successful deal roadshow.

The exercise, which seeks to raise some $750 million of a budgeted $1 billion of new debt, has received rave reviews from international capital market investors.

A government delegation, comprising officials of the Ministry of Finance, has been engaging investors since May 3, 2018, and selling Ghana’s growth prospects and financing requirements.

A statement issued by the Ministry of Finance on Wednesday, May 9, 2018, said the government team is in the process of completing pricing arrangements with investors and will soon announce the final deal.

Ghana is also considering raising up to an extra $750 million depending on market conditions during the year to commence a build up to repay bonds, which mature in 2022.

Deputy Information Minister Kojo Oppong Nkrumah said “we are excited at the level of interest shown in Ghana’s instruments. What remains now is the concluding arrangements after which we will announce the size of the deal. Ghana’s recent macroeconomic performance has been impressive and should hopefully lead to a reward of lower rates to the benefit of the nation.”

The government plans to utilise the $750 million new debt raised for the development of infrastructure nationwide including roads and housing.

Source: Myjoyonline.com

 

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