Ken Ofori Atta, Finance Minister
Ghana has become the first ever country on the African continent to issue a 41-year bond.
On Tuesday, it successfully raised $3 billion in the international debt capital market.
In a statement dated February 5, 2020, the Finance Ministry indicated that the international market reaffirmed its increasing confidence in the Ghanaian economy when the bond issuance on Tuesday, February 4, resulted in order book five times the amount required.
The issuance comes two weeks after international rating agency, Moody’s reviewed the Ghanaian economy outlook from stable to positive.
Following a three-day roadshow in a series of fixed investor meetings in New York, Boston and London, Ghana issued a second tri-tranche eurobond transaction under its International capital markets programme.
The transaction comprised $1.25 billion 6-year weighted average life (WAL) $1 billion 14-year WAL and $750 million 41- WAL period at a coupon rate of 6.375? and 8.750? respectively.
BY Melvin Tarlue