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Africa

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  • Ghana is not preparing to issue 100 year bonds this year, according to deputy finance minister Charles Adu Boahen, but has not ruled them out for 2019, although the nation is looking at different opportunities to raise long term capital.
  • Investors, bankers and traders have lined up to pour scorn on Ghana finance minister Ken Ofori-Atta’s expectations that the country will issue $5bn-$10bn of century bonds before the end of the year, the first part of a plan to sell $50bn of such bonds.
  • African private placements are expected to rise in the coming months as issuers eschew the high prices of public bonds after the emerging markets sell-off over the summer.
  • Carl Mace has started at ICBC Standard Bank to trade hard currency EM sovereign debt.
  • Emerging markets-focused mining firm Trevali Mining has amended and extending an existing loan facility, bringing its revolving credit facility up to $275m.
  • Ghana Cocoa Board (Cocobod) signed its $1.3bn trade finance facility of Thursday, as the company prepares to start funding purchases for the coming harvest.