Govt appoints three banks as lead managers for Ghana’s third Eurobond
Government has named the transaction advisers for the Ghana’s third Eurobond issue.
According to statement issue by the Finance Ministry, Barclays, Deutche Bank, and Standard Charted Bank would act as lead managers for the transaction.
It would be managed by Databank, EDC stock brokers and Strategic African Securities as the local partners in the transaction.
DENTOS would act as international counsel while JLD and MB legal consultancy would be local counsel for the deal.
The advisers are expected to work closely with the transaction committee which has representatives from the Ministry of Finance, Bank of Ghana and the Attorney Generals Department in the preparatory work for execution of the transaction.
According to the statement, although the transaction team is expected to start work very soon on the preparatory activities, government will continue to monitor the market for a suitable execution window.
Ghana is hoping to raise about 1 billion dollars from the international market, when it finally begins the bond issue.
Government last year managed to raise a similar amount on the international market at a yield of about 7 percent. However with the yield on the current second EUROBOND pegged around 9 percent, analysts fear Ghana might pay a higher rate if they go out to raise the 1 billion dollars.
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