Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Five year bond set to be priced much tighter than the development bank's last senior issue
Investors were eager to tender their bonds despite initial resistance
Inclusion of a variable rate instrument was not acceptable to official creditors
Oil producer's cost of funding has fallen hundreds of basis points since February
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Republic of Ghana is still expected to open books on a five year amortising note this week, though no exact timing has been given, a lead banker said on Wednesday. -
CEEMEA is focused on one issuer this week, Ghana, as Latin America borrowers ignore the summer break.
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Moody's joined Fitch late on Monday in downgrading the Republic of Congo, which defaulted on a principal and coupon payment on its only international bond last week.
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Ghana is on the road this week for its first standalone bond since 2014. The government will use the new issue to buy back its $500m 2017s as part of its push towards "smart" debt management. In a market where yield is king, bankers expect the deal to go well, despite concerns about the country's widening budget deficit.
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The Netherlands Development Finance Company (FMO) sold a ZK104m ($10.3m) five year note to a single investor on Monday.
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A group of international banks are understood be close to signing a $1.4bn project finance loan for a major oil and gas field development, expected to transform Ghana's domestic energy distribution.
