Ghana has prepared the sale of seven-year bonds valued at around US$98 million in two issues as Ghana aims to extend its government debt yield curve. The sale would be the first time it offers bonds of that duration.
A statement released on the central bank's website today said that the West African nation is to sell half of the amount by August and the other half by November. The statement further gave information that the sale will be will be open to foreign and domestic investors. The dates of the sale, however, were left undisclosed.
Ghana is offering longer bond terms in its attempt to provide investors additional methods to enter the nation and to enhance its government's debt trading. Ghana, the world's second-biggest cocoa producer, has also the second-biggest economy in the region. Ghana's finance ministry expects the nation to grow as much as 8% this year.
The country also had earlier plans to provide an additional US$1 billion in its second Eurobond sale later this month.
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