LONDON, May 6 (IFR) - Ghana, rated B1 by Moody‘s, B by Standard & Poor’s and B by Fitch, is eyeing an international dollar bond according to two sources.
The issuer sent out a request for proposals, with the deadline to respond passing last Friday, according to one of the sources.
Officials from Ghana met with fixed-income investors in London in early April during a non-deal roadshow organised by Standard Chartered, sources told IFR at the time.
Ghana’s 7.875% August 2023 bonds are quoted at a cash price of 93.438 to yield 8.93%, according to Tradeweb data. The country’s deputy finance minister told Reuters in March that the sovereign would hold out on issuing bonds until it could achieve a yield of 8% or less. (Reporting by Sudip Roy; Editing by Helene Durand)