UMOA: Cote d’Ivoire launches a 160 billion FCFA bond

After the brilliant success of its last two exits on the international financial market, Cote d'Ivoire is entering the regional WAEMU market for its first bond issuance of the year. The country intends to mobilize 160 billion FCFA (296.8 million USD) through the issuance, on February 23rd, 2021, of two bonds named TPCI 5.80% 2021-2028 and TPCI 5.90% 2021-2031 for 110 billion FCFA (210 millions USD) and 50 billion FCFA (92.7 millions USD) respectively.

The Ivorian State thus offers a 5.80% coupon to a first category of investors who would be favorable to lend it funds over a period of 7 years and a 5.90% coupon to a second category of investors who would be interested to make loans over 10 years.

This fund raising operation, which objective is to finance investments foreseen in the 2021 budget of the Ivorian State, consists concretely in the issuance of 16,000,000 bonds with a nominal value of 10,000 FCFA (18.55 USD) each.

Subscriptions to this public offering, which are open from February 23rd, 2021 to 05 March included, are collected by the brokerage firms (SGI) of WAEMU.

Investors who have subscribed to the transaction and who do not wish to hold their bonds until maturity will have the opportunity to sell them to other investors in the secondary market of the Regional Stock Exchange (BRVM).

Jean Mermoz Konandi

Publié le 24/02/21 15:52