Ghana to sell second Eurobond after 5 years

The Finance Ministry has hinted that Ghana is thinking of selling a second Eurobond after five years as one of the ways to finance development projects to support the country’s economic growth.

A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorized according to the currency in which it is issued.

Government is already planning a GHC 400 million three-year in January 2013 but is also strongly considering a Eurobond.

This was revealed by Finance Minister Dr. Kwabena Dufour in an interview with some journalists stated that “It is under consideration, among other options, to repay the existing Eurobond. The sale may take place in 2013.”

Ghana sold its first Eurobond in sub-Saharan Africa outside of South Africa in 2007, and may issue a further $750 million of the debt to refinance the earlier notes, which mature in October 2017.