Togo raised CFA27.5 billion in the latest bond issue on the regional money market

Public finance
Monday, 31 May 2021 15:41
Togo raised CFA27.5 billion in the latest bond issue on the regional money market

(Togo First) - On Friday, May 28, Togo successfully finalized its fifth bond issue on the regional money market, steered by UMOA-securities agency. The bond, which will mature over five years, helped the country’s treasury mobilize CFA27.5 billion, while it was seeking CFA25 billion. The fixed interest rate for the operation is 5.8% and the weighted average maturity is 5.66%. 

The successful issue reflects investors’ interest in Togo’s public securities - primary dealers and management and intermediation companies, located in Togo and Côte d’Ivoire, were the biggest subscribers. Overall, the order book passed a little more than CFA92 billion, thus corresponding to an effective subscription rate of more than 370%, a trend recorded since end-2019. 

Counting this last issue, Togo has raised over CFA300 billion on the regional money market since the year began. And, the country plans to raise the same amount before the year ends, despite the ongoing health crisis.  

In 2020, let’s recall, Togo raised more than CFA620 on the UMOA-securities market; this is CFA200 billion more than it aimed to. 

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