UMOA-securities: Togo secures CFA33 billion on the regional money market

Public finance
Monday, 22 August 2022 17:03
UMOA-securities: Togo secures CFA33 billion on the regional money market

(Togo First) - Last Friday, Togo secured CFA33 billion on the UMOA securities market. While that is the amount Lomé retained, it mobilized around CFA59 in the related issue. 

The country raised the funds through a simultaneous issue of Treasury Recovery Bonds (OdR), with the bonds having a nominal value of CFA10,000. 

According to the UMOA securities agency, the two issues will mature over five and seven years, respectively. They have an interest rate of 5.7% and 5.9%, distinctly.

The agency added that Togolese authorities will use the operation’s proceeds to finance their budget, in line with efforts to recover from Covid-19 and return to pre-pandemic performances.

Esaïe Edoh

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