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Togo in search of 50 billion FCFA on the regional financial market

04/03/2020
Source : Agence Ecofin
Categories: Index/Markets

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After having fed its 2020 management budget with 110 billion FCFA collected from WAEMU investors, Togo is setting the bar for its ambitions higher this time. According to the regional debt planning agency, he is asking until March 13, the regional financial market to try to collect 50 billion FCFA. Planned via the issue of Obligations Assimilables du Trésor (OAT) with a nominal value of 10,000 FCFA, this operation will cover a maturity of 3 years. Each security subscribed will be taken into account on March 16 to produce interest at the annual rate of 6.15%, from the 1st year. As for the redemption of the bonds, it will take place on the 1st working day following the due date set at March 16, 2023, specifies the notice of call for tenders. As a reminder, the current has been going well between Togo and WAEMU investors since the beginning of this year. Until the recent exit from the country, they have in fact subscribed to more than 200% of the treasury securities that it has issued.

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