Ghana accessed the international bond markets for the first time yesterday, sweeping aside broad credit market volatility to sell $750m (€529m) of 10-year bonds at the lowest price planned as investor demand for the sub-investment grade sale soared to over $3bn.

The issue, lead arranged by Citi and UBS, comes days after Turkey attracted similarly deep investor demand to its sale of $1.25bn of bonds maturing in 2018, highlighting the resilience of emerging market credit despite heightened investor nervousness over riskier securities.