{"id":395920,"date":"2017-06-15T21:44:13","date_gmt":"2017-06-15T21:44:13","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/"},"modified":"2017-06-15T21:44:13","modified_gmt":"2017-06-15T21:44:13","slug":"fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/","title":{"rendered":"Fidelity Bank, Stanchart lead issuance of ESLA backed bond"},"content":{"rendered":"<p><\/p>\n<div id=\"\">\n<p>Government has appointed Fidelity Bank and Standard Chartered Bank as Joint Lead Managers for the issuance of a long-term bond to tackle the energy sector legacy debts. <\/p>\n<p>&#13;<\/p>\n<p>As lead managers, the two banks are expected to work closely with members of their respective syndicates\/consortia and any other local banks\/financial institutions as co-managers with the view to building capacity locally and facilitating knowledge transfer. <\/p>\n<p>&#13;\n\t\t\t<\/p><\/div>\n<div id=\"\">\n<p>A statement from the Ministry of Finance on Thursday June 15 said the two banks were chosen after an evaluation of about 10 proposals received in response to a request for proposals for transaction advisors for an Energy Sector Levy Act (ESLA) backed Bond. <\/p>\n<p>&#13;<\/p>\n<p>The two entities are also expected to on behalf of Government, who is the \u201cSponsor\u201d set up a Special Purpose Vehicle (ESLA-SPV) to issue a long-term bonds -The \u201cEnergy Bond\u201d or the \u201cBond\u201d- on the back of ESLA receivables assigned to the SPV, which shall be listed on the Ghana Stock Exchange (GSE). <\/p>\n<p>&#13;<\/p>\n<p>The ESLA SPV is expected to issue bond(s) to the tune of about GH\u00a210 billion, being the total estimated legacy debt within the energy sector. A portion of the bond proceeds shall also be used to refinance previously restructured debt due Banks that are currently being repaid with ESLA receivables, as well as the BDC debt due the Banks. <\/p>\n<p>&#13;<\/p>\n<p>The statement further explained that proceeds from the energy bond issuance will be used to repay the legacy debt of the energy sector SOEs, is in line with government\u2019s strategy as stated in paragraph 805 of the 2017 Budget Statement and Economic Policy of Government, to streamline ESLA flows to resolving the various issues within the energy sector, which have led to intermittent power supply and high tariffs, as well as provide liquidity to the banking sector. <\/p>\n<p>&#13;<\/p>\n<p>\u201cThe Ministry looks forward to a successful ESLA Sponsored Bond issuance as we take steps to resolve the challenges of the energy sector, improve our country risk and debt sustainability outlook, as well as deepen our domestic capital market and promote broader economic growth and development,\u201d the statement added.<\/p>\n<p>&#13;<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t              <!-- new position --><br \/>\n          <!-- new position end -->\n\t\t\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Government has appointed Fidelity Bank and Standard Chartered Bank as Joint Lead Managers for the issuance of a long-term bond to tackle the energy sector legacy debts. &#13; As lead managers, the two banks are expected to work closely with members of their respective syndicates\/consortia and any other local banks\/financial institutions as co-managers with the [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-395920","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Government has appointed Fidelity Bank and Standard Chartered Bank as Joint Lead Managers for the issuance of a long-term bond to tackle the energy sector legacy debts. &#013; As lead managers, the two banks are expected to work closely with members of their respective syndicates\/consortia and any other local banks\/financial institutions as co-managers with the [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Fidelity Bank, Stanchart lead issuance of ESLA backed bond\",\"datePublished\":\"2017-06-15T21:44:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/\"},\"wordCount\":355,\"commentCount\":0,\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/\",\"name\":\"Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"datePublished\":\"2017-06-15T21:44:13+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/06\\\/15\\\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/","twitter_card":"summary_large_image","twitter_title":"Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com","twitter_description":"Government has appointed Fidelity Bank and Standard Chartered Bank as Joint Lead Managers for the issuance of a long-term bond to tackle the energy sector legacy debts. &#13; As lead managers, the two banks are expected to work closely with members of their respective syndicates\/consortia and any other local banks\/financial institutions as co-managers with the [&hellip;]","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/"},"author":{"name":"","@id":""},"headline":"Fidelity Bank, Stanchart lead issuance of ESLA backed bond","datePublished":"2017-06-15T21:44:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/"},"wordCount":355,"commentCount":0,"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/","url":"https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/","name":"Fidelity Bank, Stanchart lead issuance of ESLA backed bond - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2017\/#website"},"datePublished":"2017-06-15T21:44:13+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2017\/06\/15\/fidelity-bank-stanchart-lead-issuance-of-esla-backed-bond\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2017\/#website","url":"https:\/\/www.ghanamma.com\/2017\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2017\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/395920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/comments?post=395920"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/posts\/395920\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/media?parent=395920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/categories?post=395920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2017\/wp-json\/wp\/v2\/tags?post=395920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}