Togo seeks again CFA20 billion on regional financial market

Finance

Monday, 27 August 2018 11:07

Togo seeks again CFA20 billion on regional financial market

(Togo First) - After recently issuing fungible treasury bonds at a coverage rate of 85% for a targeted sum of CFA20 billion, Togo will retry the operation next August 31, aiming for the same amount (through similar bonds).

This was revealed by the regional agency in support of the issuance and management of public securities in the WAEMU (UMOA-Titres) in a tender it issued at the end of the past week.

Once again, the government wants to raise monies from natural and legal persons. These proceeds will serve to meet the State’s 2018 financing budget.

For the upcoming issuance, nominal value is CFA10,000, interest rate value is 6.25% and value date was set on September 3, 2018. Corresponding results will be released the same day the operation is to take place.

The term for the issuance is 36 months and its maturity date is September 3, 2021. According to the tender, “the bonds will be totally redeemed in full on the first business day following maturity”.

Séna Akoda

REFORMS OVERVIEW

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