Togo seeks CFA25 billion on the UMOA-Securities

Finance
Thursday, 17 September 2020 14:19
Togo seeks CFA25 billion on the UMOA-Securities

(Togo First) - On September 25, 2020, Togo will again try to raise CFA25 billion on the regional stock market. 

Just like for the previous operation on this market, the country will issue fungible Treasury bonds, except this time, they will mature over 60 months (5 years) at an annual interest rate of 6.4%. 

It should be recalled that Togo’s latest issuance was on Sept. 11. With an interest rate of 6.15% annually, it was oversubscribed (278%). Overall, the country had raised CFA69.5 billion in the process but retained only CFA27.5 billion to meet its budget needs for 2020.

Séna Akoda

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