LONDON, May 10 (IFR) - Ghana has revised pricing for a US dollar dual-tranche offering comprising amortising bonds with 10 and 30-year average lives, according to a lead.
The African sovereign has set guidance for the May 2029 bond at 7.75%-7.875%. The notes were first marketed in the low 8% area yield.
Ghana has revised pricing for the May 2049 tranche to 8.75%-8.875% from the initial low 9% area.
Total books have passed US$5.5bn, evenly split between the two tranches.
The 144A/Reg S deal is today’s business via Bank of America Merrill Lynch, Citigroup, JP Morgan and Standard Chartered.
Ghana is rated B3/B-/B.
The deal follows a tender offer for its 2022 and 2023 bonds. Ghana announced on Wednesday that it has received valid tenders of just over US$702m for its US$750m 9.25% 2022 notes.
Ghana, however, terminated the invitation to holders of its 2023s and will not accept for purchase any of the bonds. (Reporting by Alice Gledhill, editing by Julian Baker)