The London offices of White & Case and Dentons have taken lead roles on a $1bn (£645m) bond issue for the Republic of Ghana.

The bond, which was listed on the Irish and Ghana Stock Exchanges, comprised a standard $750m (£484m) issue of new notes at 7.875%, and a $250m (£161m) note exchange for bonds issued in 2007.

Dentons took the lead role for the Ghanaian Government after advising on the 2007 issue, with capital markets partner David Cohen and Africa consultant Mary Boakye leading the team in London, alongside corporate partner Walter Van Dorn and tax partner John Harrington in the US. The firm's relationship with the west African country dates back to 2003.

Meanwhile, White & Case capital markets partners Melissa Butler and Stuart Matty advised Citigroup and Barclays, which acted as dealer managers and joint lead managers.

"The firm has acted in more than 90% of the public eurobond issues by sub-Saharan African sovereigns, excluding South Africa, over the past few years," said Butler.

Earlier this year, Butler and Matty acted for the Republic of Rwanda on its debut bond issue, having in recent years also acted on similar deals involving Gabon, Namibia, Nigeria, Senegal and Zambia.

On Ghanaian law matters, JLD & MB Legal Consultancy led for the Republic, while Fugar & Co acted for the banks.