Government has officially listed its third Eurobond on the Ghana Stock Exchange.
The Eurobond was issued on the 11th of September 2014 to raise an amount of 1 billion US dollars.
[contextly_sidebar id=”rw0HpZNJnNYOEowRF37bCKwRe7I1MMPu”]The Eurobond which attracted a coupon rate of 8.125% will primarily be used to fund capital projects in the budget.
250 million dollars of the 1 billion dollars will be seed capital for the Ghana Infrastructure Investment Fund while 750 million dollars will be used for capital expenditures, refinancing and counterpart funding requirements.
The listing will be the second after last year’s Eurobond was listed on the bourse in September 2013.
The International Monetary Fund (IMF) talks with Ghana on a bailout programme, the recent Eurobond issue and the cocoa syndicated loan has caused international rating agency Fitch, to affirm Ghana’s rating at ‘B’.
In March 2014, Fitch downgraded from ‘B+’ to ‘B’, Ghana’s outlook on long-term foreign and local currency Issuer Default Ratings (IDR).
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By: Anim Kwaku Boadu/citifmonline.com/Ghana