Ghana says launches 15-yr $1 bln Eurobond at 10.75 pct rate

Ghana launched a $1 billion Eurobond on Wednesday at a 10.75 percent coupon rate, becoming the first country in sub-Saharan Africa outside of South Africa to issue a 15-year bond, Finance Minister Seth Terkper said in a statement.

The bond was 100 percent oversubscribed showing a "high appetite for Ghana's credit" and a World Bank partial bond guarantee of $400 million enabled Ghana "to borrow on reasonable terms in a rather difficult market," Terkper said.