Togo cashes in XOF22 billion for its first bond issuance on the regional market in Q3 2019

Finance
Monday, 15 July 2019 11:46
Togo cashes in XOF22 billion for its first bond issuance on the regional market in Q3 2019

(Togo First) - It is a great start for Togo on the regional financial market in this third quarter. The country’s public treasury indeed recently raised XOF43 billion via a three-year bond issuance. This represents a coverage rate of 215% and consolidates the country’s performances on this market since the beginning of 2019.

However, the treasury will only cash 110% of the auctioned amount, thus XOF22 billion, in line with rules set by the UMOA-securities coordination agency.

With this operation, Togo since the beginning of the year, has mobilized about XOF230 billion from the regional financial market.

This quarter, Lomé plans to raise XOF115 billion. By the end of September also, it is expected to raise €500 million through a Eurobond. The government expects the latter to be fruitful; a confidence due to its first sovereign ratings recently issued by S&P and Moody’s.

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