Ghanaian Finance Minister Ken Ofori-Atta traveled to Asia to gauge investor interest for the nation’s planned sale of $1 billion of Eurobonds, according to two people familiar with the matter.
The trip to Hong Kong and Singapore isn’t an official roadshow because Ghana hasn’t yet appointed deal advisers for the sale, said the people, who asked not to be identified because they’re not allowed to speak publicly about the matter.
The book-runners will be appointed as soon as lawmakers have voted to approve the debt issuance, said the people.
Officials from the local unit of Standard Chartered Plc, Fidelity Bank Ghana and Ghana Commercial Bank Ltd. will accompany Ofori-Atta on the trip, said the people.
The yield on Ghana’s $1 billion of bonds due in August 2023 rose 8 basis points to 6.13 percent by the close in London Thursday, extending this year’s increase to 31 basis points.