Cocobod’s syndicated loan have been oversubscribed by about 15 percent.
The cocoa industry regulator, COCOBOD indicates it requested for 1.6billion dollars, but received offers of up to about 1.84billion dollars.
COCOBOD however accepted 1.7billion dollars from the partner banks to purchase cocoa beans for the 2014/2015 cocoa season.
[contextly_sidebar id=”obYxsjfqguDxIsbIAizayNWG0Jpv0Inm”]Finance Minister Seth Tekper early on in the year got parliamentary approval to accept as much as 2 billion dollars.
The signing was done at a ceremony in Paris, France earlier today.
The syndicate is made up 23 banks.
The lead banks were Commerce bank, Dutch bank, DZ bank and Nataxis bank.
Last year Cocobod signed a $1.2 billion syndicated loan from international banks for the 2013/14 cocoa crop purchases as against $1.5 billion for 2012/13.
By: Anim Kwaku Boadu/citifmonline.com/Ghana