Togo records second successful recovery bond issue on the regional market

Public finance
Tuesday, 09 March 2021 14:03
Togo records second successful recovery bond issue on the regional market

(Togo First) - Last Friday, Togo raised CFA148 billion for its latest simultaneous bond issue on the WAEMU securities market. The country, which was seeking CFA40 billion to restart its economy post-Covid, thus recorded a coverage rate of around 371% for the operation. 

The bonds issued are fungible treasury bonds, with respective maturities of 36 months (3 years) and 60 months (5 years). The first garnered CFA39 billion and the second CFA109 billion. Over the amount raised, Togo will retain CFA40 billion. 

The bonds' respective interest rates are 5.85% and 6.1%. They started taking value yesterday, March 8. 

The UEMOA-securities agency announced that the bonds will be redeemed on the first business day following their respective maturity dates, March 08, 2024, and February 22, 2026.

Séna Akoda

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