The government’s planned US$3 billion Eurobond will be done in three tranches at three different maturity periods with the longest being a 41-year bond.
The 41-year bond thus becomes the longest-dated bond ever issued by an African country trumping the 31-year bond the government issued at its last Eurobond appearance in 2019.
In addition to the 41-year bond which matures in 2061 will be two bonds with maturities periods of 7 years and 14 years.
According to the price guidance sighted by Citi Business News, the government will be looking to receive a coupon rate for the 7-year in the region of 6.5 percent.
For the 14-year bond, coupon rate government has price guidance of about 8 percent, while the longest bond is expected to fetch anything in the region of 9 percent.
The government on Tuesday, February 4, 2019, is expected to announce the outcome of the bids it has received for the planned bonds following successful completion of the roadshow.
The book runners for the 2020 Eurobond include Bank of America Merrill Lynch, JP Morgan Chase, Morgan Stanley, Standard Bank, and Standard Chartered.
The Co-Managers are Databank, Ghana Commercial Bank, Fidelity Bank, IC Securities, and SAS Finance Group.