This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Ghana Receives Strong Response to Exchange Offer
October 4, 2024
Ghana’s bondholders reacted positively to the debt restructuring options provided by the nation for $13bn of its dollar bonds. Holders representing 98.6% of outstanding bonds agreed to a debt exchange. Holders will swap their existing notes for new notes on or around October 9, with the complete settlement process expected thereafter. Investors who accepted the DISCO option will take a 37% haircut and receive two new bonds maturing in July 2029 and 2035. The coupon stand at 5% from this year through July 2028 and will rise to 6% thereafter. Bondholders who opted for the latter PAR option will get a 1.5% coupon on new bonds due in January 2037, but without any haircut. 91% of the holders opted for the DISCO option while 7.6% opted for the PAR option.
Ghana’s dollar bonds traded stable, with its 7.75% 2029s at 53 cents on the dollar, yielding 24.2%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Fitch Cuts Ghana to CCC Following S&P’s Recent Downgrade
August 11, 2022
Ghana Reaches Deal With Creditors
June 13, 2024
Ghana Starts Second Round of Restructuring Talks
June 20, 2024
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.