BIDC readies a XOF1.5 billion financing for a Togolese firm

Investments
Wednesday, 19 June 2019 16:17
BIDC readies a XOF1.5 billion financing for a Togolese firm

(Togo First) - The ECOWAS development and investment bank (BIDC) plans to invest XOF1.5 billion in Diwa Industries, a Togolese firm specialized in industrial production of gas bottles, metal packaging and accessories.

The funds will be part of monies raised through a bond issuance. The latter launched last May 28 will close on June 26 and aims at securing XOF25 billion.

In detail, 2.5 million securities, with a nominal value of XOF10,000, will be issued in the operation. These will mature over seven years. A 6.4% interest will be paid each semester.

Overall, proceeds of the issuance will be used to finance seven projects across six countries, Togo included. The projects are in the energy, industry, hospitality and financial services sectors.

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