Ghana gets $355m of demand for exchange offer

By Francesca Young
05 Aug 2013

Ghana completed its liability management trade on Friday with $355m of demand from holders of the country’s $750m 2017s to be rolled into the country’s 2023s. The appetite for a longer duration allowed lead managers Barclays and Citi to increase the size of the 2023s by $250m, bringing the total deal size to $1bn.

The same leads arranged the sale of the original $750m 2023s the week before.

“It was a deal that made sense for everyone,” said Nick Samara, an origination official at Citi in London. “It was an attractive package for investors and the extension of duration made sense for Ghana. It means the ...

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