Togo to conduct three simultaneous treasury bond issues next week to raise CFA75 billion

Public finance

Friday, 09 April 2021 16:15

Togo to conduct three simultaneous treasury bond issues next week to raise CFA75 billion

(Togo First) - On April 16, Togo will proceed to a triple issue of fungible treasury bonds, with a mobilization target of CFA75 billion.

The respective maturity periods of the bonds that will be issued are five years (60 months), seven years (84 months), and 10 years (120 months). The proceeds, according to UMOA-securities, will be used to restart the economy post-Covid.

“The present issue, which is labeled Obligations de Relance OdR, aims to enable the issuer (ed. Note: Togo) to raise funds from people and businesses for meeting the budgetary needs of the State of Togo, in line with its economic recovery strategy, and for containing the effects of the Covid-19 pandemic and returning to performances recorded before the health crisis,” the UMOA-securities said.

Regarding the interest rates, they were respectively set at 5.9%, 6.15%, and 6.25% per year. Meanwhile, the securities to be issued have a nominal value of CFA10,000 each.

Séna Akoda

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