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Economy

Ghana seeks $750 million loan from StanChart, Standard Bank

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The proceeds will be used to refinance development projects and for liability management in Ghana as approved in the 2019 budget.

Sunday 10, March 2019

(Bloomberg) --Ghana’s finance ministry is in talks with Standard Chartered and Standard Bank Group for a syndicated loan facility of $750 million to pay for infrastructure projects and refinance existing debts.

Ghana needs $2 billion in foreign-currency debt to help finance its budget and will take on an additional $1 billion if it’s able to secure loans or securities at lower rates than what it’s paying for existing liabilities.

Last month, the government appointed five banks, including StanChart and South Africa’s Standard Bank, as lead arrangers for a eurobond sale.

TAGS : StanChart, Standard Chartered, Stanbic, Standard Bank, Eurobond

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