By Christine Van Dusen
Atlanta, Sept. 8 – Ghana sold $750 million notes due in 2022 to yield 9¼% on Thursday, according to an announcement from the finance ministry.
The notes were initially talked in the high-9% area.
BofA Merrill Lynch, Citigroup and Standard Chartered were the bookrunners for the deal.
The bond has a weighted average life of five years, with three equal repayments – $250 million in September 2020, September 2021 and September 2022.
“Like the four previous issues, this year’s bond attracted investors from the United Kingdom, Europe, the United States, Middle East and Asia,” the statement said.
The final book exceeded $4 billion.
Other details were not immediately available on Thursday.
| Issuer: | Ghana
|
| Amount: | $750 million
|
| Maturity: | 2022
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, Standard Chartered
|
| Yield: | 9¼%
|
| Trade date: | Sept. 8
|
| Price talk: | High-9% area
|
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