• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

COCOBOD not default on repayment of syndicated loan – Redd Intelligence

3 years ago
in Agribusiness, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
82
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

COCOBOD not default on repayment of syndicated loan – Redd Intelligence

Despite the escalating debt woes of Ghana, Ghana Cocoa Board (COCOBOD) is still expected to attract international banks to its annual one-year pre-export finance (PXF) or otherwise the Cocoa Syndicated Loan.

According to international research firm, Redd Intelligence, it is almost impossible for COCOBOD to default.

Defaulting on Cocobod’s “flagship financing” is “almost impossible,” commented Tedd George, founder of Africa-focused advisory firm, Kleos Advisory.

“It’s a low-risk African agricultural asset that you want on your books,” said George, adding, it is the only deal in Ghana that some banks will do.

The company has consistently raised a PXF syndicated facility on an annual basis ever since 1992, never defaulting and sometimes even paying early.

Mr. George explained that “the government will do everything in its power to get the facility repaid”.

RelatedPosts

The 10 Fastest-Growing Trading Nations in Africa

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

“It might even repay [COCOBOD] before it repays the IMF, and the IMF might even support this.”

All eyes on pricing of deal

Redd Intelligence, which is based in Singapore, pointed out that all eyes will be on the pricing of this year’s deal, which already tends to generate “pretty poor returns on US dollars”.

Last year’s PXF, which raised $1.5 billion, paid a margin of 1.1 percentage points over Libor, considerably tighter than the 2020 deal which landed at +175 basis points

This year’s transaction, Redd Intelligence, said will instead be pegged against the Secured Overnight Financing Rate (SOFR) rate and will “definitely” pay a higher rate than last year’s deal, given the current climate.

The deal is still in general syndication and will most likely be signed by the end of this month.

Ghana International Bank, ICBC, Mitsubishi UFJ Financial Group (MUFG), Natixis, Rabobank and Standard Chartered are coordinating the one-year facility.

Tags: Cocoa Syndicated Loan.Ghana Cocoa Board (COCOBOD)
No Result
View All Result

Highlights

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

Trending

Business

The 10 Fastest-Growing Trading Nations in Africa

August 23, 2025

The 10 Fastest-Growing Trading Nations in Africa Against the backdrop of shifting dynamics in global trade, several...

Nigeria’s 1.6 Million Container Trade Far Less Than it’s Ports Potential – Logistics Expert

August 23, 2025

Inside Details of Presco’s $172m Acquisition of SOP, Ghana Oil Palm Firm

August 23, 2025

Africa’s Richest Economy’s Currency Hits Nine-Month High as Fed’s Dovish Signal Weakens Dollar

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.