{"id":83516,"date":"2024-10-05T18:32:44","date_gmt":"2024-10-05T18:32:44","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/ghana-completes-external-debt-restructuring-with-eurobond-holders"},"modified":"2024-10-05T18:43:46","modified_gmt":"2024-10-05T18:43:46","slug":"ghana-completes-external-debt-restructuring-with-eurobond-holders","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders","title":{"rendered":"Ghana Completes External Debt Restructuring with Eurobond Holders"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Ghana has successfully completed its external debt restructuring with Eurobond holders, achieving a 98 per cent exchange on the country\u2019s US$13 billion debt.<\/b><\/p>\n

Dr. Mohammed Amin Adam, the finance minister, stated that the agreement, finalised in approximately nine months, surpassed the 65 per cent international benchmark set by bondholders.<\/p>\n

\u201cWe obtained more than 98 per cent consent which is significantly higher than the 65 percent threshold from bondholders following the launch of the Exchange Offer and Consent Solicitation in September 2024,\u201d he said.<\/p>\n

The Minister disclosed this during a press briefing in Accra on Thursday, where he outlined the outcomes of Ghana\u2019s Eurobond restructuring.<\/p>\n

He stated that the development resolves Ghana\u2019s default on international bonds and paved the way for normalised financial relationships with rating agencies and international markets.<\/p>\n

\u201cThis swift action showcases the government\u2019s unwavering commitment to restoring financial and debt sustainability… and the strong support of Ghana\u2019s bondholder community across Africa and in the international markets,\u201d he noted.<\/p>\n

Highlighting the key benefits of the agreement, the Minister noted a 37 per cent reduction in the nominal value of the country\u2019s debt, amounting to US$5 billion.<\/p>\n

He also mentioned that the country\u2019s debt service stood at US$4.3 billion, and the average interest rate on bonded debt had decreased from over eight per cent to less than five per cent.<\/p>\n

The conclusion of the Eurobond debt restructuring follows Ghana\u2019s completion of its Domestic Debt Exchange Programme (DDEP) and the agreement on a Memorandum of Understanding (MoU) with its Official Creditors Committee (OCC).<\/p>\n

The process began with the initiation of the exchange offer and consent solicitation on September 5, 2024.<\/p>\n

Ghana\u2019s Eurobond restructuring included two options a PAR Option, which involves no nominal haircut, a lower interest rate of 1.5 percent, and a tenure until 2037.<\/p>\n

The second a DISCO option involves a 37 percent nominal haircut, higher interest rates of between five and six percent and shorter maturity from 2029 to 2035.<\/p>\n

For both options, bondholders would receive Post-Default Interest (PDI) notes as compensation for interest payment arrears up to December 2023.<\/p>\n

For More News And Analysis About Ghana Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Ghana has successfully completed its external debt restructuring with Eurobond holders, achieving a 98 per cent exchange on the country\u2019s US$13 billion debt. Dr. Mohammed Amin Adam, the finance minister, stated that the agreement, finalised in approximately nine months, surpassed the 65 per cent international benchmark set by bondholders. \u201cWe obtained more […]<\/p>\n","protected":false},"author":84,"featured_media":83515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[429],"class_list":["post-83516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-ghana"],"yoast_head":"\nGhana Completes External Debt Restructuring with Eurobond Holders - Ghana<\/title>\n<meta name=\"description\" content=\"Ghana has successfully completed its external debt restructuring with Eurobond holders, achieving a 98 per cent excha ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana Completes External Debt Restructuring with Eurobond Holders\" \/>\n<meta property=\"og:description\" content=\"Ghana has successfully completed its external debt restructuring with Eurobond holders, achieving a 98 per cent excha ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-05T18:32:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-05T18:43:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/10\/sm_1728141197.709737.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1026\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ghana Completes External Debt Restructuring with Eurobond Holders\",\"datePublished\":\"2024-10-05T18:32:44+00:00\",\"dateModified\":\"2024-10-05T18:43:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/10\/sm_1728141197.709737.jpg\",\"keywords\":[\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-completes-external-debt-restructuring-with-eurobond-holders\",\"name\":\"Ghana Completes External Debt Restructuring with Eurobond Holders - 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