Cocobod’s borrowing costs climb

AdobeStock_cocoa_Ghana_575x375_24June2020
By Mariam Meskin
30 Sep 2020

Ghana Cocoa Board (Cocobod), the central organisation of Ghana’s cocoa industry, has raised its annual syndicated loan. But the borrower did not have an easy ride and had to concede much higher margins, according to bankers.

The $1.3bn syndicated loan, which was signed on Tuesday, has a maturity of one year. The deal is a standard refinancing, which the borrower has done every year, like clockwork, for the last two decades.

However, according to bankers on the deal, Cocobod was forced to cough up for this ...

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