Ghana, bondholders' advisers kick off debt talks under non-disclosure agreements - sources

Rothschild & Co SCA

28/03/2023 11:19

By Jorgelina do Rosario and Marc Jones
       LONDON, March 28 (Reuters) - Ghana's government and
international bondholders are pushing forward with formal debt
talks after advisors to both sides signed non-disclosure
agreements, three sources with direct knowledge of the matter
told Reuters. 
    The West African country, which suspended payments on most
of its external debt last year, has picked Lazard as its
financial adviser, while a group of international private
lenders are represented by Rothschild & Co. Ghana's
dollar-denominated debt is more than $13 billion across
maturities ranging from 2023 to 2061, according to Refinitiv
data.     
    After signing the NDAs earlier this month, both parties
cannot share any information under the agreement with any
non-authorised party. 
    "The government and the bondholders are sharing sensitive
material through the advisers, like the revenues that could be
used to service the debt and the restructuring parameters the
creditors are aiming for," said one of the sources, who asked
not to be named because talks are private. 
    Lazard and Rothschild & Co declined to comment. 

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Ghana's bonds dragged to default    https://tmsnrt.rs/3LXgcRs
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 (Reporting by Jorgelina do Rosario and Marc Jones, editing by
Karin Strohecker and Angus MacSwan)
 ((jorgelina.dorosario@thomsonreuters.com;))