Koranteng & Koranteng Legal Advisors Acts as Joint Local Counsel on Landmark $3 Billion Eurobond Issuance by the Republic of Ghana.
Koranteng & Koranteng Legal Advisors is proud to have advised the Ministry of Finance on the Republic of Ghana’s Landmark 2021 $3 Billion Eurobond issuance. The landmark transaction was in excess of $3 billion and involved a 4-year zero-coupon tranche of $525 million. This is the first of its kind to be issued by a sub-saharan African sovereign. The transaction also comprised US$1 billion 7-year notes at 7.75%, US$1 billion 12-year notes at 8.625% and US$500 million 20-year notes at 8.875%. Investors have demonstrated a continued confidence in the Republic of Ghana with such a positive market response amidst the Covid-19 pandemic, with its attendant virtual roadshows and investor presentations. Ghana intends to use the proceeds to support its budget deficit by funding growth-oriented expenditures and conducting liability management.