COCOBOD raises GH¢3.39bn at 11% in first Commercial Paper tranche
The Ghana Cocoa Board (COCOBOD), through its wholly owned special-purpose vehicle, Cocoa Capital PLC, has raised GH¢3.39 billion from the first tranche of its Commercial Paper (CP) programme.
The Ghana Cocoa Board (COCOBOD) has successfully raised GH¢3.39 billion through the first tranche of its Commercial Paper (CP) program, as reported by JOYBUSINESS. The funds were raised last week, falling slightly short of the GH¢4 billion initially targeted. The interest rate for investors is 11%, and the Commercial Paper has a tenor of 266 days.
Cocoa Capital PLC, a wholly-owned special-purpose vehicle of COCOBOD, is spearheading the fundraising effort. The Domestic Cocoa Notes Programme aims to raise up to GH¢16.3 billion in total, with GH¢14 billion sourced through Commercial Papers for short-term liquidity needs in the 2026/27 crop season and the remaining GH¢2.3 billion through medium- to long-term bond issuances.
The first tranche of GH¢4 billion is being followed by a second tranche of GH¢4 billion and a final tranche of GH¢6 billion, depending on COCOBOD's funding requirements, market conditions, and programme terms.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
