WAEMU-Securities: Togo to Carry Out a New Issue, Seeks CFA30 billion, Again

Finance
Monday, 12 June 2023 19:30
WAEMU-Securities: Togo to Carry Out a New Issue, Seeks CFA30 billion, Again

(Togo First) - Togo plans to proceed to another issue on the WAEMU stock market on June 16. The country intends to raise, again, CFA30 billion through a simultaneous issue of fungible treasury bonds and fungible treasury bills. 

Lomé hopes to get CFA10 billion with the bills and the rest with the bonds. The former securities have a face value of CFA1 million, a multiple interest rate, and will mature over 364 days. As for the latter, the bonds, they have a face value of CFA10,000, and interest rates of 6% and 6.25% on maturities of 3 and 5 years respectively. 

The operation’s proceeds will plug Togo’s 2023 budget, which totals CFA1,957 billion. So far this year, the country has raised CFA264 billion on the regional money market. Its annual target is CFA574 billion.

Esaïe Edoh

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