After a successful simultaneous issuance, Togo seeks to raise CFA20M more on the regional finance market

Finance
Wednesday, 15 August 2018 12:13
After a successful simultaneous issuance, Togo seeks to raise CFA20M more on the regional finance market

(Togo First) - Togo will next Friday once more make a move on the regional market, to raise CFA20 billion. This follows a good performance it recorded at the end of July when it raised CFA57.49 billion, via a simultaneous issuance, while seeking CFA50 billion.

Agence UMOA-Titres and Togo’s public treasures announced through a tender launched on August 10, 2018, that CFA20 billion worth of fungible treasury bonds will be issued August 17. Corresponding value date is August 20, 2018.

Proceeds from the issuance will be used to meet the State’s financing needs for its 2018 budget.

Regarding the upcoming issuance, nominal value of each security is CFA10,000, and the operation’s interest rate is 6%. Maturity period is 610 days, set to be reached on April 21, 2020.

Séna Akoda

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