May 20, 2013 / 11:32 PM / 4 years ago

Citibank, Barclays likely to lead Ghana's Eurobond plans

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ACCRA, May 20 (Reuters) - 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 July-August.

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)

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