BACKGROUND
The Government of the Republic of Ghana intends to launch a 2021 International Capital Market (ICM) funding programme for the medium term. For the 2021 portion of the programme, the Government intends to raise up to US$ 5.0 billion to support growth-oriented expenditures in the 2021 Budget, conduct liability management including refinancing domestic debt and a buyback of some selected outstanding Eurobonds.
As such, the Ministry of Finance wishes to request for EOI from qualified and reputable Transaction Advisors for the various instruments under the programme.
INSTRUMENTS UNDER THE 2021 INTERNATIONAL CAPITAL MARKET PROGRAMME
The instruments for the programme consists of the following broad group of instruments:
- Eurobonds;
- Diaspora Bonds;
- Sustainable Bonds (Green Bonds and Social Bonds); and
- Syndicated Term Loans
All applicants must separately indicate their willingness (in writing) to provide bridge financing if needed and the quantum, terms and timing thereof.
SCOPE OF WORK
- The selected Transaction Advisors (Lead Manager and Co-Manager) for each instrument shall be required to provide but not limited to the following services:
- advising, guiding and driving the international capital market funding program process;structuring and documentation of the program;
- work with other professionals including Legal Counsel and Local Advisors to assist in the execution of the program where necessary;
- market sounding through roadshows etc. and engaging with institutional investors and lenders;
- participate in the bridge financing if needed;
- ensuring the financial close of the program; and
- any related assignment principal to the success of the programme
The aforementioned tasks are intended only as a guide and should, therefore, not be taken as exhaustive.
CRITERIA FOR EVALUATION
Each Expression of Interest (EOI) to serve as an International Transaction Advisor should address the mandatory and other requirements as set forth below in the order shown and should be as specific and succinct as possible.
Please note that, based on the applicant’s interest, the EOI is to be submitted separately for the specific category of ICM instruments as stated in paragraph II. The criteria for evaluation, therefore, applies to each instrument.
Mandatory Requirements
Interested applicants must provide the following, evidence of which must accompany the EOI:
- Registration Certificate with relevant regulatory authorities in the legal jurisdiction of the applicant / Certificate of Incorporation (if Applicable);
- Provide the profile of the Firm and the Curriculum Vitae with evidence of supporting certificates of all professionals to be assigned to the transaction with a description of each individual’s role;
- Provide evidence of at least a ten-year track record of similar transactions in Emerging Markets (EM) especially in relation to the chosen instrument stated above. Emphasis would be placed on successful issuances over the past 5 years.
- Provide evidence and details of debt transactions executed specifically in Sub-Saharan Africa in the last 5years.