After the opinion of no objection from the Regional Council for Public Savings and Financial Markets (Crepmf) and the agreement of the Regional Securities Exchange (Brvm) and the Central Depositorial/Bank of Settlements (Dc/Br), the bonds named “Sonatel 6.50% 2020-2027" were admitted to trading by the Brvm in the bond compartment on Tuesday, September 15, 2020 under the symbol SNTS.O2.

According to a press release from the telecom company, the shares are available to buy and sell freely on the secondary market through authorized intermediaries. The first fixing took place today at 9:45am.

“As a reminder, this second bond from Sonatel was authorized under visa number: EOP/20-01 by the Regional Council for Public Savings and Financial Markets (CREPMF) for a sought amount of 100 billion FCFA. It resulted in the issuance of 10,000,000 dematerialized bonds at a unit price of 10,000 FCFA over a 7-year maturity at a gross annual interest rate of 6.50% and amortized semi-annually after two (02) years of capital deferral,” adds the same source

The transaction is the largest bond issue by a private company in the Umoa region to date and has been very successful with investors through an oversubscription of 122% () and thus an early closing on July 8, 2020. The resources raised will be used to finance the Sonatel Group's investment plan in Senegal for fiscal year 2020. Sékou Dramé, CEO of the Sonatel Group, expressed the company's satisfaction, saying “proudly ringing this bell that symbolizes the first listing of Sonatel Bonds, and thanking the UEMOA authorities, the regulator Crepmf and the Brvm Dc/Br, as well as the investors

He affirms that the commitment is renewed to contribute to making these investments a success for policyholders.”

For Edoh Kossi Amenounve, CEO of Brvm and DC-CBR, “this transaction proved the resilience of the Brvm as well as the depth of the regional financial market during these times of crisis.

The success of an operation of this magnitude is a strong signal sent to businesses in the region, showing that the regional financial market is a way to be looked at much more carefully in order to diversify their sources of long-term financing.

Ababacar Diaw, managing director of Sgi Impaxis, arranger and leader of the transaction, said that “in addition to the liquidity offered to Sonatel Bonds holders, the listing offers an opportunity to investors who could not have been used to acquire a security with an attractive risk-return combination.