Barclays Bank Ghana has confirmed its leading position in the Sovereign Debt Capital Market with the successful conclusion of four bond issuances, raising US$ 2.25 billion for Ghana.
The transactions, concluded on Friday, 31 March, 2017, were lead arranged by Barclays Bank Ghana and subscribed by offshore investors.
This issuance constitutes the largest such transaction in sub-Saharan Africa and will be instrumental in Government’s liability management strategy of extending debt tenors, reducing short-term rollover pressures, lowering interest cost, and shoring up foreign exchange reserves, which will further enhance the strength of the Ghana Cedi.
Barclays Bank acknowledges the overwhelming success of this transaction within a remarkably short deal period as a signal of investors’ confidence in Ghana’s medium-to-long term economic outlook.
“This transaction is undoubtedly a strong indication of the investor community’s renewed confidence in Ghana’s economy. It is a very bold historic trade and should represent a turning point for good in Ghana’s economy” noted Kobla Nyaletey, Director & Head, CIB Markets at Barclays Bank Ghana.
Mrs. Patience Akyianu, Managing Director of Barclays Bank Ghana, speaking on the deal said “Barclays Bank Ghana is delighted to have played a pivotal lead arranger role in this transformational transaction. It is a testament of our continued readiness to put our capabilities and unmatchable access to the international markets at the disposal of the Government and our clients. We remain committed to partnering the Government and people of Ghana towards greater economic advancement.
We are proud of our 100 years of progressive partnership in Ghana’s economic development, and we remain excited about our commitment to supporting Ghana to prosper.
Barclays Bank Ghana is the market leader in Treasury Bonds distribution in Ghana. A leading Primary Dealing Bank and a major market-maker in the secondary market for bonds. Since 2015, Barclays Bank has been at the forefront of arranging the issuance of long-dated Treasury Bonds on behalf of the Government of Ghana, in partnership with co-bookrunners.