Cocobod back for bankers’ sweet tooth
Ghana’s national cocoa board Cocobod has sent out a request for proposals to raise $1.75bn for its annual pre export finance (PXF) facility. The annual trade finance blow-out is regularly oversubscribed, as banks clamour to lend to the company.
Last year, the firm originally looked to raise $1.75bn but increased the facility to $2bn after reaching $1.5bn in general syndication. In 2010 it lifted the loan from $1.2bn to $1.5bn following oversubscription.
However, it is unlikely that Cocobod will borrow $2bn this year. The deals PXF structure
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