Ghana to name four lead advisors for $2.5 bln Eurobond sale

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ACCRA, March 20 (Reuters) – Ghana is set to name four banks as lead advisers for a planned sale of up to $2.5 billion of Eurobonds, expected by June, sources close to the transaction said on Tuesday.

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The exporter of cocoa, gold and oil is seeking to raise $2.5 billion to pay off debt and finance its 2018 budget.

Standard Chartered Bank, JP Morgan, Bank of America and Citibank will advise on the bond sale, the sources said, with Fidelity Bank and IC Securities participating as local partners.

One source told Reuters the lenders would be meeting Ministry of Finance officials this week to finalise details of the planned transaction.

Ghana is in its final year of a $918 million credit deal with the International Monetary Fund under which it is aiming to reduce the budget deficit, inflation and public debt, which hit 68 percent of GDP last year. (Reporting by Kwasi Kpodo Editing by Sofia Christensen)

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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