Cote d'Ivoire managed to mobilize €1 billion, or around 656 billion CFA francs, on the international market through its issuance of Eurobond on Tuesday. With a maturity of 12 years (2032 maturity date), the transaction was a great success due to the interest shown by investors.
Indeed, 211 investors have made offers for a total amount of "more than 5 billion euros", the Ivorian government said on Wednesday. But the other reason for the authorities' satisfaction is the interest rate, which came out at 5%: it is the "lowest rate in our history", welcomed the government spokesman who also stressed that the rate is the lowest in relation to countries compared to Cote d'Ivoire and used to the international sovereign debt market.
As an indication, the country had raised in October 2019 a eurobond "at the rate of 5.875%". In the WAEMU regional money market, the country's ten-year bond stands at a minimum of 5.99%. Also, in the regional financial market (BRVM), the longest-matured (12-year) bond offers 6%.
For Cote d'Ivoire, the success of this mobilization reflects the confidence of international investors in a resilient economy despite the political upheavals.
Jean Mermoz Konandi
Publié le 25/11/20 16:42