Bloomberg: Ghana Said to Plan 10-Year Eurobond Priced Above Nigeria

Ghana plans to sell its second Eurobond after investor meetings in Europe and the U.S. this week, with yields priced over Nigeria�s latest dollar-bond issuance, three people with knowledge of the transaction said. The yield for the 10-year, dollar-denominated notes will be around 8.125 percent, according to the people, who asked not to be named as the details are private. That compares with 6.63 percent yielded in Nigeria�s sale of 10-year bonds on July 2. Ghana is planning $1 billion of Eurobonds after stops in London, Frankfurt and Los Angeles, Adams Nyinaku, head of treasury at the Accra-based Bank of Ghana, said July 11. The planned bond sale in the world�s second-biggest cocoa producer follows Rwanda and Nigeria as African nations tap appetite for assets from the world�s fastest growing region after developing Asia. Ghana is rated five steps below investment grade at B by Standard & Poor�s, compared with BB-for Nigeria, which is three steps away. Emerging borrowers have raised at least $13 billion since July 10, when comments from Federal Reserve Chairman Ben S. Bernanke tempered speculation the U.S. would scale back stimulus.