Ghana announced plans to raise $1bn via a sale of sustainable bonds, which includes the African nation’s first social bond that will fund a flagship policy in Africa aimed at widening access to education. The sale will most probably include a mix of social and green bonds and would follow Ghana’s sale of a 4Y zero-coupon debt to international investors, which was part of a $3.025bn international bond deal that included 7Y, 12Y and 20Y tranches. The lead deal managers on the older deal were Bank of America Corp., Citigroup Inc., Standard Chartered Plc, Standard Bank Group Ltd. and Rand Merchant Bank Ltd. Adu Boahen commented that the government will use some of the same advisors for the issuance of the sustainable bonds. Proceeds will be used to refinance domestic debt utilized for environmental and social projects.
Ghana’s USD bonds were stable. Its 10.75% 2030s were trading at 127.342, yielding 6.76%
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