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Ghana sells $3 billion in eurobonds, oversubscribed five times

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Christian Akorlie Reuters
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Credit: REUTERS/LEONHARD FOEGER

Ghana has raised $3 billion in a eurobond auction that was oversubscribed five times, the government spokesman said on Wednesday.

ACCRA, Feb 5 (Reuters) - Ghana has raised $3 billion in a eurobond auction that was oversubscribed five times, the government spokesman said on Wednesday.

Tuesday's auction sold $1.25 billion in 7-year bonds with a coupon of 6.375%, $1 billion in 15-year bonds with a coupon of 7.875% and $750 million in 41-year bonds with a coupon of 8.875%.

The 41-year eurobond is the longest-dated bond for an African country, Information Minister Kojo Oppong Nkrumah said in a statement.

(Reporting by Christian Akorlie; Writing by Aaron Ross; Editing by Kevin Liffey)

((Aaron.Ross@thomsonreuters.com; +221 77 569 1702;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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