Banks talk tough on Cocobod terms

AdobeStock_cocoa_Ghana_575x375_24June2020
By Mariam Meskin
08 Jul 2020

Ghana Cocoa Board (Cocobod), which is in the market to refinance a one year $1.3bn loan facility signed in September, is facing troubles according to bankers on the deal, contrary to comments recently made by its chief executive.

One of the few sparks of activity in emerging market loans since the coronavirus crisis crashed volumes has been Cocobod's annual refinancing. 

GlobalCapital reported last month that pricing and underwriting on the $1.3bn refinancing were points of contention between the borrower and lenders, with one banker saying that: “Lenders do not ...

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