Lomé borrows CFA33 billion more on the WAEMU-securities market

Public finance
Monday, 05 September 2022 08:59
Lomé borrows CFA33 billion more on the WAEMU-securities market

(Togo First) - Togo’s latest operation on the WAEMU’s money market was a success. It raised last Friday CFA33 billion, which is three billion more than it was seeking through the simultaneous issue of recovery bonds.

The CFA33 billion were retained out of around 72 billion mobilized by 30 investors. This represents a subscription rate of 242%. 

Bonds issued have a nominal value of CFA10,000 and respective maturities of five (5) and seven (7) years. Securities that will mature over five years have an annual interest rate of 5.7%; the others have an interest rate of 5.9% per annum.

Lomé will use the funds to finance its post-Covid economic recovery strategy. 

So far this year, Togo has raised CFA407 billion on the regional market. This is out of CFA550 billion, its target for 2022.

Written by:Esaïe Edoh 

Translated from French by Schadrac Akinocho

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