{"id":597966,"date":"2019-03-11T08:03:01","date_gmt":"2019-03-11T08:03:01","guid":{"rendered":"
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Government is in talks with Standard Chartered Plc and Standard Bank Group Ltd. for a bridge loan of $750 million and will repay the facility with the proceeds of a Eurobond sale.<\/span><\/span><\/p>\n

The finance ministry listed the proposal for a syndicated loan in Friday\u2019s parliamentary order papers and said it is intended to \u201cfund or refinance development projects and for liability management,\u201d according to the document. <\/span><\/span><\/p>\n

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The facility would be a short-term loan, Mark Assibey-Yeboah, chairman of the finance committee, said by phone.<\/span><\/span><\/p>\n

\u201cThis is bridge financing against the Eurobond,\u201d he said, adding that the bond sale may take two or three months to be finalized.<\/span><\/span><\/p>\n

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Ghana needs $2 billion in foreign-currency debt to help finance its budget and will take on an additional $1 billion if it\u2019s able to secure loans or securities at lower rates than it\u2019s paying for existing liabilities. <\/span><\/span><\/p>\n

Last month, West Africa\u2019s biggest economy after Nigeria appointed five banks, including StanChart and Johannesburg-based Standard Bank, as lead arrangers for a Eurobond sale, according to people familiar with the matter.<\/span><\/span><\/p>\n<\/div>\n