ACCRA May 20 Citibank and Barclays are likely
to be named the lead advisers for Ghana's plans to issue up to
$1 billion of Eurobonds this year, officials involved in the
discussion said on Monday.
The cocoa, gold and oil exporting country last week announced
plans to issue its second Eurobond worth up to $1 billion to
refinance debt and fund infrastructure projects after
successfully selling $750 million in 10-year bonds in 2007.
"It's almost a done deal and Citibank and Barclays are likely
to lead the transaction," an official close to the matter told
Reuters on condition of anonymity because he was not authorised
to speak ahead of the official announcement.
The decision could be announced as early as Tuesday following
the conclusion of discussions on the matter by a special
government committee, the official said.
Another source told Reuters the proposal generated strong
interest from several international banks, many of which had
pitched to lead the transaction scheduled tentatively for
The west African country has drawn increased attention from
investors since it began oil production in 2010.
Speaking to Reuters last week, Ghanian Vice President Kwesi
Amissah-Arthur said: "We are looking at the best conditions
including costs, and we will not do it until we're convinced it
is the right time."
(Reporting by Kwasi Kpodo; Editing by Eric Beech)