Ghana gov't bent on raising the 1.5 billion dollars eurobond it had earlier cancelled...

According to a report by, the government of Ghana has already resumed engagements with investors over the possibility to raise the 1.5 billion dollars five-year domestic-market bond-issue it had cancelled this month due to what the Ministry of Finance described only as “recent market developments.”

The site continues to indicate that a report by the Reuters News Agency has said Ghana has already 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.

The expected ratings of the bonds are B1 by Moody's and BB- by Fitch. Ghana's sovereign ratings are B3 by Moody's and B- by Standard & Poor's and B by Fitch.

Barclays, Deutsche Bank and Standard Chartered are the lead managers.