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The government of Ghana has issued $ 3 billion of Eurobonds that will expire over three periods.
The three tranches will expire seven years with a coupon of 8.75%, 12 years of 8.125% and 31 years of 8.95%.
Pulse.com.gh reports that the title was the highest of all time for a sovereign African country, as it was 7 times more used.
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Earlier this week, the finance minister led a government delegation during a tour of presentation in the United Kingdom and the United States of America.
The delegation included representatives from the Bank of Ghana and the Ministry of Finance.
Officials from the Ministry of Finance and the government will use $ 2 billion to support infrastructure development in the 2019 budget, while the remaining $ 1 billion will be used to repay some maturing debts.
Professor Godfred Bokpin, a Ghanaian economist, said the coupon rate was relatively good.
He said investors could have asked for more without the good fundamentals of the economy.
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Source: Yen.com.gh
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