Ghana's Cocobod to issue up to $2 bln in long dated debt

ACCRA, May 28 (Reuters) - Ghana's cocoa regulator Cocobod will issue up to $2 bln in long-dated debt to fund road construction and refinance existing loans, its deputy chief executive for finance said on Tuesday.

Speaking at a meeting with executives of Standard Bank, Ray Ankrah said Cocobod was looking at a tenor of between 10 and 20 years for the bond, which would be sized between $1.5 billion and $2 billion.

Some of it would finance existing debts of about $400 million, and the rest would fund cocoa development programmes including roads into remote growing areas. "This has not been done before so we are taking our time to do it," he said of the bond.

(Reporting by Christian Akolie Writing by Tim Cocks Editing by Juliette Jabkhiro)


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