The government of Ghana is beginning the auction of its 2.5 billion dollar energy bond on Tuesday.
This would allow interested individuals and institutions to bid for the bond to be used to clear the country’s estimated 2.4 billion dollar energy sector debt.
A successful roadshow has taken in the UK and Accra to meet with potential investors in order to raise the first tranche of about 6 billion Ghana cedis via a book building approach.
Africa Feeds understands that there will be two bids; one to mature in seven years and the other to mature in ten years’ time.
While the seven-year bid is expected to raise 2.4 billion Ghana cedis, the 10-year bid is expected to raise 3.6 billion Ghana cedis; totaling the 6 billion Ghana cedis for the first tranche.
Source: Africafeeds.com/Fred Dzakpata
