Togo set to raise CFA25 billion next week on UMOA-securities market

Finance
Thursday, 15 October 2020 17:41
Togo set to raise CFA25 billion next week on UMOA-securities market

(Togo First) - After recording a good performance last quarter, Togo announced it will seek CFA25 billion on the regional financial market next October, 23rd. 

The tender notice relative to the first operation of this quarter was published on October 13 by the UMOA Securities agency. The funds will be raised through a simultaneous issuance of fungible treasury bonds. 

In detail, these are bonds with maturity periods of respectively 5 and 7 years, and  6.4% and 6.5% interest rates. The nominal value for both issues is CFA10,000. The money raised will finance the 2020 national budget. 

It should be recalled that in Q4 2020, Togo hopes to mobilize CFA60 billion on the regional financial market, against CFA218 raised in the previous quarter (and CFA88 billion in Q3 2019). 

Séna Akoda

 
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