Togo makes a reappearance on the UMOA securities market, seeks CFA50 billion this month

Public finance
Thursday, 11 November 2021 15:17
Togo makes a reappearance on the UMOA securities market, seeks CFA50 billion this month

(Togo First) - Togo will attempt to raise CFA50 billion on the regional money market, UMOA Securities, throughout this month. It will issue recovery bonds with a nominal value of CFA10,000. 

The issue - the first this quarter, given that Lomé canceled those scheduled in October - is set to close on November 19. The securities issued will mature over 180 months (15 years), and they have an interest rate of 6.3% per annum. The proceeds should enable Togo to finance its post-Covid recovery strategy.

So far into the year, the Togolese State has secured CFA502 billion on the UMOA securities market, via 19 issues. In 2020, the country carried out 23 issues, raising CFA623 billion.

Esaïe Edoh

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