{
  "id": 12865669,
  "title": "COCOBOD raises GH¢3.4bn in first cocoa notes offer, 15% below indicative GH¢4bn target",
  "url": "https://urgent.news/2026/10/08/cocobod-raises-gh-3-4bn-in-first-cocoa-notes-offer-15-below-12865669",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T11:48:49.000Z",
  "source": {
    "name": "Joy Business",
    "slug": "joy-business",
    "url": "https://www.myjoyonline.com/cocobod-raises-gh%c2%a23-4bn-in-first-cocoa-notes-offer-15-below-indicative-gh%c2%a24bn-target/"
  },
  "original_language": "en",
  "account": "The Ghanaian Cocoa Board (COCOBOD) successfully raised GH¢3.4 billion through its inaugural cocoa notes offering, which falls roughly GH¢604 million short of the indicated GH¢4 billion objective. The funds were procured via Cocoa Capital PLC, a wholly owned subsidiary of COCOBOD designed to borrow from investors under its novel domestic financing scheme. Out of the total, GH¢3.39 billion was offered at an interest rate of 11%. The cocoa notes were issued on October 5, 2026, and their maturity date is set for June 28, 2027. This sum constitutes around 85% of the first tranche's initial GH¢4 billion financing blueprint, which was initially presented to investors as a target. However, it is essential to note that the GH¢4 billion mark was just an illustrative figure in the investor pitch, and the exact sum received by COCOBOD remains undisclosed. The final figures do not disclose how many bids were received, rejected, or whether investors proposed lower amounts or demanded rates that COCOBOD was unwilling to accept. Additionally, the issuance was postponed from its originally scheduled date. Cocoa Capital’s announcement of the bidding window, which was initially set to conclude on September 30, followed by settlement and issuance on October 1, was not adhered to. The cocoa notes were ultimately issued on October 5, four days after the initial timeline.",
  "summary": "COCOBOD has raised approximately GH¢3.4 billion through its first commercial paper issuance, falling about GH¢604 million short of the indicative GH¢4 billion presented to investors. The funds were raised through Cocoa Capital PLC, the wholly owned company established by COCOBOD to borrow from investors under its new domestic financing programme. According to the published results, […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "COCOBOD raises GH¢3.4bn in first cocoa notes offer, 15% below indicative GH¢4bn target",
        "url": "https://urgent.news/2026/10/08/cocobod-raises-gh-3-4bn-in-first-cocoa-notes-offer-15-below",
        "published": "2026-10-08T11:48:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}