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Ghana considers US dollar bond after sending RFP- sources
May 6, 2014 / 11:52 AM / 3 years ago

Ghana considers US dollar bond after sending RFP- sources

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)

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