Denton Wilde Sapte (DWS) has demonstrated its dedication to Africa by advising on Ghana’s debut sovereign bond.
The firm advised the republic on the issuance of $750m (£369.08m) worth of bonds placed in the US, the proceeds of which will be used to fund the development of infrastructure projects in Ghana.
The firm’s lead partner on the transaction David Cohen said: “We did have to go through a rigorous pitching process, but we do have an existing relationship with the Ghanaian government. We advised on the Ghana Cocoa Board pre-export financing, which was also a significant transaction for the country.”
Earlier this year (13 August) The Lawyer reported on the firm’s developing presence and focus on Africa, highlighting its dedication to project finance in the region, as well as in the Middle East.
Cohen said: “This deal is significant for the firm because it’s important for the country. It also reflects the focus on Africa as a whole. I think we have a strong presence and very good credentials in Africa.”
US firm Cravath Swaine & Moore, led by partner Gregory Shaw, advised the Ghanian government on US law matters.
Lead managers UBS and Citigroup instructed Clifford Chance, led by US partner Robert Treffney and London capital markets partner David Dunnigan.