Update: Cocobod signs annual PXF
Ghana Cocobod’s latest pre-export facility has been signed at US$1.5bn.
The deal, which was launched in July this year, was signed on September 12. The loan was oversubscribed by 30%, but was scaled back, a source involved in the deal confirms to GTR.
Barclays, Standard Chartered, HSBC, Industrial and Commercial Bank of China, and Ghana International Bank were involved in the deal, with Standard Chartered acting as the facility agent and Ghana International Bank as the collections agent.
Proceeds from the facility will be used to finance cocoa purchases for the 2011/12 season.