Togo closes first half of 2019 with another successful bond issuance on the regional market

Public finance
Monday, 01 July 2019 12:13
Togo closes first half of 2019 with another successful bond issuance on the regional market

(Togo First) - Last Friday, Togo closed its operations on the regional financial market for the first half of the year.

The country’s last operation for the period is a three-year maturity bond issuance. It successfully raised XOF22 billion (while it sought XOF20 billion initially) in the process; proceeds will be used to finance expenditures set under the 2019 State budget.

In detail, total submissions amounted to XOF40.2 billion, thus representing a coverage rate of more than 200%.

With this last issuance, Togo’s treasury raised on the concerned market a total of XOF211 billion in H1 2019. During the second half, the country intends to raise about XOF200 billion, including XOF130 billion in bonds. Togo also considers negotiating by September 2019, a loan from the international lending market, maybe via a Eurobond.

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