Some Ghana Bondholders Received Coupon Payment of World Bank-Backed Bond

Some investors of Ghana's 2030 Eurobond have received coupon payments which had been due on April 14, Reuters reported. The country announced it would default on some its external debt in December and has not made payments on its international bonds since. However, the bond maturing in 2030 with a coupon of 10.75% is partially guaranteed by the World Bank, so payment kicked in this week via the bank's International Development Association. The $400 million guarantee by the multilateral lender on the $1 billion issue back in 2015 was designed to provide extra security under "challenging market conditions" in case the West African country failed to pay. Read more.