• 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

Ghana Launches Restructuring Offer for $13 Billion Eurobond to Investors 

12 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
3 min read
0 0
0
93
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

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

Ghana Launches Restructuring Offer for $13 Billion Eurobond to Investors 
Ghana invited holders of roughly $13 billion of its international bonds to swap their holdings for new instruments on Thursday, more than two months after reaching a preliminary restructuring agreement with two bondholder groups.
Bondholders have until Sept. 30 to accept the offer though those who agree to do so before an early deadline on Sept. 20 will be eligible for a 1% consent fee, the government said in its “exchange offer and consent solicitation” published in a regulatory statement on the London Stock Exchange.
The West African gold and cocoa producer defaulted on most of its $30 billion of international debt in 2022, as the strain of the COVID-19 pandemic, war in Ukraine and higher global interest rates tipped it into crisis.
It is overhauling its debt under the G20 Common Framework, which has seen Zambia and Chad also reach agreements. Ethiopia is expected to be next, but the setup has been widely criticised for being slow and cumbersome.

A committee of Ghana’s international bondholders said in a statement that it supported the restructuring offer. It said it was important for Ghana to sustain economic reforms to eventually regain access to international financial markets.
Bondholders will have the chance to swap their holdings for a so-called “disco” bond, offering an interest rate of 5% climbing to 6% after mid-2028, and with maturities across three instruments ranging between 2026-2029.

That option will come with a writedown of principal of 37%.
The second is a par bond option capped at $1.6 billion with three instruments, of which the main one will pay a coupon of 1.5% and mature in 2037 with no haircut apart from a writedown of past due interest.
The offer will last for 21 days.
The agreement will see Ghana’s bondholders forego about $4.7 billion of their loans and provide cash flow relief of about $4.4 billion up until 2026 when the country’s current International Monetary Fund programme ends.

Godfred Bokpin, an economist and finance professor at the University of Ghana, said Thursday’s announcement was an important milestone in the country’s restructuring efforts.
He told Reuters: “With this, investors now have a fair understanding of their losses and they can move on.”
The new bonds will be issued on Oct. 9, the government statement said. Holders of the Ghana 2030 international bond that was partially guaranteed by the World Bank and is also part of the restructuring would receive their guarantee payment the same day or as soon as possible thereafter.
Source: reuters
Via: norvanreports
Tags: Euro bondghanaGhana Launches Restructuring Offer for $13 Billion Eurobond to InvestorsinvestorsRestructuring offer

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

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.