Business News Tue, 18 Sep 2007

Ghana plans to sell benchmark eurobond

Ghana plans to sell its debut benchmark-sized eurobond after a U.S. and European roadshow, starting September 19 2007, subject to market conditions, one of the banks managing the sale said on Monday.

Ghana unveiled plans at the start of this year to make its debut on the dollar-denominated debt market in 2007 to attract more investors and lower the interest rate it pays on debt..

Citigroup and UBS are joint lead managers and bookrunners for the sale.

Ghana is rated B+ -- fourth highest in "junk" territory -- by both Standard & Poor's and Fitch Ratings.

Source: .