Togo launches its 4th issue on the WAEMU market this year, seeks CFA35 billion

Finance
Tuesday, 21 February 2023 11:05
Togo launches its 4th issue on the WAEMU market this year, seeks CFA35 billion

(Togo First) - Togo just launched its fourth issue on the WAEMU market this year. It is a simultaneous issue of fungible treasury bonds and fungible treasury bills and the country hopes to raise CFA35 billion through the operation. 

In detail, the bonds have a nominal value of CFA10,000 and mature over 3 and 5 years with respective interest rates of 5.5% and 5.7%. As for the bills, they have a nominal value of 1 million FCFA and a multiple interest rate on maturity of 364 days. 

So far this year Togo has raised CFA80 billion on the WAEMU market while its target for 2023 is CFA574 billion. The money is to finance the country’s budget which totals CFA1,957 billion in expenditures and revenues.

Esaïe Edoh

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