Ghana seeks investor consent for $13 billion Eurobond restructuring

05 September 2024

Ghana's economy has been in crisis for years and it is overhauling its debt under the G20 Common Framework.

Ghana seeks investor consent for $13 billion Eurobond restructuring

Ghana's government on Thursday launched an exchange offer and consent solicitation, a formal step in the restructuring of roughly $13 billion of its Eurobonds, a statement on the London Stock Exchange showed.

The West African nation in June struck an agreement in principle with two bondholder groups to restructure the debt, paving way for Thursday's announcement.

The gold and cocoa producer defaulted on most of its $30 billion of international debt in 2022, as the strain of the COVID-19 pandemic, war in Ukraine and higher global interest rates tipped it into crisis.

It is overhauling its debt under the G20 Common Framework.

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