Lomé reduces amount it aims to raise via coming Eurobond

Finance
jeudi, 18 juillet 2019 14:08
Lomé reduces amount it aims to raise via coming Eurobond

(Togo First) - Instead of €500 million as announced by President Gnassingbé in London recently, the Eurobond that Togo plans on soon issuing will aim at raising €397 million.

For this operation, Lomé’s advisor is the French business bank Lazard. The Eurobond which was approved by the International Monetary Fund (IMF) will be guaranteed by the World Bank and Africa Trade Insurance.

Proceeds of the bond will be used to pay part of Togo’s short-term domestic debt. This should give the government some respite and enable it to better finance public and social expenditures especially. This is in a context where Lomé needs more than XOF1000 billion of public investments under its national development plan (PND 2018-2022).

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