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Ghana to Issue Second Eurobond

Sources reveal plans for 10-year bond with 8.125% yield.

Ghana plans to issue a new 10-year bond, hot on the heels of a successful auction by Nigeria on July 8th. The planned bond sale highlights Ghana’s desire to take advantage of the appetite of foreign investment for assets from the high growth region. The bond is to be competitively priced at 8.125% vs. the previous Nigerian bond at 6.63%. Samir Gadio of Standard Bank said of the pricing…

At first glance, the new bond looks cheap, but this suggests that Ghana is offering a decent premium to compensate investors for the risks associated with the country’s fiscal and macroeconomic imbalances.

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