• Strong investment

    Strong investment

    The recently issued Ghana Eurobond has raised US$3 billion in the international debt capital markets.

    The issuance includes a US$1.25 billion, six-year weighted average life (WAL) bond; a US$1 billion, 14-year WAL bond; and a US$750 million, 41-year WAL bond – the longest ever issued in sub-Saharan Africa.

    According to the West African nation’s Ministry of Finance, the tri-tranche Eurobond has been issued under its International Capital Markets programme, and the order book stands at US$15 billion.

    The ministry adds that proceeds of the bond are to be used ‘to support Ghana’s budget for infrastructure, restructuring of the energy and financial services sectors, and a liability-management exercise’.

    25 February 2020
    Image: Alamy