Togo to seek CFA165 billion on the regional market this quarter

Economic governance
Thursday, 15 April 2021 17:28
Togo to seek CFA165 billion on the regional market this quarter

(Togo First) - In Q2 2021, Togo plans to raise CFA165 billion in the regional market, according to the provisional bond issue program published on April 14 by the UMOA-Securities agency. 

The funds, which will be mobilized mainly by issuing fungible treasury bonds, will help meet the country’s national budget needs. 

On April 16, three fungible Treasury bonds will be issued, simultaneously. With an overall target of CFA75 billion, which should serve to support economic recovery post-Covid, the issues will feature bonds with a maturity of 5 to 10 years. 

After that operation, four more should follow before the quarter ends. Two of them target CFA20 billion each while the last is expected to garner CFA25 billion. 

During the past quarter, Togo raised more than the CFA185 billion it initially targeted; a feat that is attributable to the confidence regional investors have in Lomé. 

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