LONDON, May 22 (IFR) - Ghana has appointed Barclays and Citigroup as lead managers on a planned Eurobond, likely in dollars, according to banking sources away from the deal.
The sovereign, which is rated B by Standard & Poor’s and B+ by Fitch, would be the latest African sovereign to issue a bond in recent months, following sales by Rwanda, Tanzania and Zambia.
Ghana has an outstanding USD750m 8.50% 2017 bond, which is trading a yield of 4.95%, according to Tradeweb.
Timing on the new issue is unclear. Citigroup declined to comment, officials at Barclays were not immediately available for comment. (Reporting by Sudip Roy; Editing by Alex Chambers)