Ghana Eurobond more than five times oversubscribed

The investor demand indicates a “high appetite for Ghana’s credit,” the ministry said. “The transaction is a vindication of the decision taken in August not to issue immediately.PHOTO: COURTESY

Ghana raised $750 million (Sh75 billion) selling Eurobonds at a yield of 9.25 per cent.

The West African country’s auction was more than five times oversubscribed, a month after it abandoned plans to issue debt due to the price demanded by investors. Yields on the nation’s existing dollar bonds fell to 14-month lows.