Togo raises nearly CFA100 billion on the regional market for its first issuance in Q4 2020

Finance
Monday, 26 October 2020 17:10
Togo raises nearly CFA100 billion on the regional market for its first issuance in Q4 2020

(Togo First) - Last week, Togo raised over CFA94 billion for its first issuance on the regional financial market this quarter. The amount is substantial given that the country was initially seeking CFA25 billion. 

The operation was a simultaneous issue of fungible treasury bonds, with a maturity of five years and seven years respectively. The bonds with a lower maturity garnered over CFA56 billion and those with the higher maturity generated more than CFA38 billion.  

Togo will retain only CFA27.5 billion out of the total it raised. The funds will be injected into its 2020 budget. 

For this simultaneous issuance, a great number of investors based in Togo purchased more than CFA32 bilion worth of 5-year bonds. 

On the other hand, investors from other WAMU countries were more interested in the 7-year bonds. According to the WAMU-securities agency, investors from Benin, Burkina Faso, and Senegal spent respectively CFA9 billion, above 7.7 billion and 6.5 billion in the securities. They made up the top 3 best subscribing States.  

Séna Akoda

 
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