The Ghana Cocoa Board (COCOBOD) has announced the introduction of a cocoa bill exchange program aimed at streamlining payments of its debt to holders of the securities.
Under the program, holders of short-term cocoa securities totaling GH₵7.93 billion will be offered longer-term securities (named bonds) with averagely lower coupons.
“Holders of the Cocoa Bills whose offers are accepted by COCOBOD will receive five (5) different Bonds with an aggregate principal amount (rounded down to the nearest GHS 1.00) equal to the principal amount of Cocoa Bills tendered (in addition to any accrued and unpaid interest due on such Cocoa Bills)”, lead arrangers of the Exchange Programme, CAL Bank, noted in a statement dated July 14, 2023.
CAL Bank stated further that “the five (5) Bonds will mature on a one-per-year basis consecutively from (and including) 2024 to (and including) 2028.”
According to the statement, offers made by interested holders are irrevocable and may be submitted from July 14, 2023, until 4 p.m. on July 31, 2023.
Below is the statement from CAL Bank
The Government last week announced a second round of debt exchange for dollar-denominated bonds, aiming to swap approximately US$809 million.
![ACI President, Lawrence O. Boampong [L], and Vice President, Maame Adjoa Thompson [R]](https://sikamantimes.com/wp-content/uploads/2025/06/aci-gh-_M-350x250.jpg)
