Ghana’s Commercial Creditors Endorse $13 Billion Eurobond Exchange Offer
A committee representing Ghana’s commercial creditors has endorsed the government’s proposal to exchange approximately $13 billion of eurobonds, a pivotal component of the West African nation’s debt restructuring efforts.
In a statement released on Thursday, the committee expressed that the legal and financial terms of the exchange offer and consent solicitation align with the agreement in principle established between the committee and Ghana in June 2024.
This agreement marks a significant step in Ghana’s ongoing negotiations with eurobond holders to restructure its debt.
The proposed deal provides investors with two options: the DISCO option, which typically involves a discount on the face value of the bonds, and the PAR option, which allows for the bonds to be exchanged at their original value.
This development is seen as critical for Ghana as it seeks to stabilize its economy and manage its debt levels amid ongoing fiscal challenges.
