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Fidelity, others to manage govt’s GHȻ6bn bond for Energy Sector Debt

Investors in Ghana are being invited to bid for GHS 6 billion in bonds to refinance the Energy Sector Debts.
A release issued by the fund managers, Fidelity Bank Ghana LimitedStandard Chartered Bank and Standard Chartered Bank Ghana Limited said the 7-year and 10-year benchmark-sized, nominal fixed-rate Ghana cedi-denominated bonds will be listed and traded on the Ghana Fixed Income Market of the Ghana Stock Exchange will be subject to market conditions.
“E.S.L.A. Plc (unrated) an independent special purpose company established and sponsored by the Republic of Ghana acting through the Ministry of Finance (rated B3, Stable (Moody's) / B-, Positive (S&P) / B, Stable (Fitch)), has appointed Standard Chartered Bank, Standard Chartered Bank Ghana Limited and Fidelity Bank Ghana limited to arrange a series of fixed-income investor meetings in London and Accra, commencing on October 19th 2017. Co-Managers on the mandate are Temple Investments and GCB Bank,” the release said in part.
Read the full press statement below.
17 October, 2017
Notice to Qualified Investors in Ghana in Relation to the Offer and Listing of Bonds of Up to GHS 6 Billion Senior Unsecured Notes Backed by Irrevocable Assignment of EDRL Receipts under a GHS 10 Billion Bond Issuance Programme to Refinance Legacy Energy Sector Debts.
E.S.L.A. Plc (unrated) an independent special purpose company established and sponsored by the Republic of Ghana acting through the Ministry of Finance (rated B3, Stable (Moody's) / B-, Positive (S&P) / B, Stable (Fitch)), has appointed Standard Chartered Bank, Standard Chartered Bank Ghana Limited and Fidelity Bank Ghana limited to arrange a series of fixed-income investor meetings in London and Accra, commencing on October 19th 2017. Co-Managers on the mandate are Temple Investments and GCB Bank.
New 7 year and 10 year benchmark-sized, nominal fixed-rate GHS-denominated bonds, with payments in GHS, documented under Ghana SEC regulations to be listed and traded on the Ghana Fixed Income Market of the Ghana Stock Exchange will follow, subject to market conditions.
The Representatives for E.S.L.A. Plc will be:
• Mr. Samuel Arkhurst – Non Executive Director and Chief Economics Officer and Director of Debt Management Division,Ministry of Finance
• Mr. Amanor Dodoo–Senior Partner with KPMG (KPMG in Ghana has been appointed as the Administrator of E.S.L.A. Plc)
Representatives for the Republic of Ghana will be:
• Hon. Charles Adu Boahen– Hon. Deputy Minister for Finance,Ministry of Finance
• Hon. Joseph Cudjoe– Hon. Deputy Minister for Energy, Ministry of Energy
• Mrs. Cynthia Arthur – Head, Financing & Investor Relations, Debt Management DivisionMinistry of Finance
• Mr. KwameAdu Okyere-Mensuo- Head Energy Risk Management, Debt Management Division, Ministry of Finance
• Mr. Charles Owusu- Technical Advisor- Energy, Oil & Gas, Ministry of Finance
 The Roadshow Schedule will be as Follows:
• Thursday, October 19th: London
• Monday, October 23rd: Accra
• Offer Opens: Week starting October 23rd
Please visit www.eslaplc.com for more details.
DISCLAIMERS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PARTINTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, OR ANY JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL.
The information contained herein shall not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase, the securities referred to herein (the "Securities") in any jurisdiction in which such offer, invitation or solicitation would be unlawful absent registration, an exemption from registration or qualification under the securities laws of any such jurisdiction. The distribution of this communication and other information in connection with the offering of the Securities in certain jurisdictions may be restricted by law and persons into whose possession this communication or other information referred to herein comes should inform themselves about and observe any such restriction.  Any failure to comply with these restrictions may constitute a violation of the securities laws in any such jurisdiction.
This communication is not a prospectus and, to the extent that it may constitute an advertisement, does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase, the Securities. Investors should not subscribe for the Securities except on the basis of the information contained in the final prospectus relating to the Securities.
This communication should not be transmitted into, or distributed, directly or indirectly in, the United States of America, its territories or possessions. This communication does not constitute or form a part of an offer of securities for sale in the United States. Securities may not be offered or sold into the United States absent registration or an exemption from registration as provided in the US Securities Act of 1933, and the rules and regulations thereunder. There is no intention to register any portion of the proposed offering of Securities under the applicable securities laws of the United States, or to conduct a public offering of securities in the United States.
This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom, or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order, or (iv) other persons to whom it may lawfully be communicated (all such persons (i) to (iv) being together being referred to as "relevant persons"). Any investment activity to which this communication may relate is only available to, and any invitation, offer, or agreement to engage in such investment activity will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
source:Myjoyonline

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