Dentons has advised the Republic of Ghana on a high profile issue of bonds.

The Republic issued USD1 billion 10.75 per cent bonds with a 15 year term. The issue was highly innovative as it benefited from a partial guarantee from the International Development Association (IDA), a division of the World Bank. The deal is of particular interest as this was the first time that the IDA had given a guarantee of a public bond issue and it was the first time that the Republic had accessed 15 year funding in the international bond markets. The bonds were listed on the Irish Stock Exchange.

This is the fourth time the Firm has advised the Republic of Ghana on international bond issues since its debut in 2007. It follows advising the Republic of Kenya bond on its international offering of US$750 million of sovereign bonds in 2014. Both deals provide testament to the strength of Dentons' Africa group and its International Debt Capital Markets team. Dentons has been present in Africa for over 50 years with over 60 years worth of deal experience spanning the continent. The Firm has offices in Cape Town, Johannesburg, Casablanca and Egypt and is supported by a network of associated firms including JLD & MB Legal Consultancy in Accra, Ghana, who acted as local counsel on the deal.

Quote from David Cohen, Partner

"It was an honour to represent the Republic of Ghana on another international bond issue. Our International Debt Capital Markets Team were able to draw on a wealth of previous experience they have in leading sovereign deals in Africa".

The team was led by David Cohen in London and Walter Van Dorn in New York supported by Nick Yao, Ben Spira, Jeremy Cape, John Harrington and Mary Boakye.