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Money market: Oragroup mobilizes 50 billion FCFA of bond loan

19/10/2021
Categories: Index/Markets

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Oragroup successfully placed a bond loan of 50 billion FCFA on Friday, October 15, 2021. This operation arranged by Hudson & Cie was oversubscribed by 160%.

The Oragroup bond loan arranged by Hudson & Cie made it possible to mobilize 50 billion CFA francs. Called "Oragroup 7.15% 2021-2028", this loan is denominated at the rate of 7.15% with a maturity of 7 years and a 2-year grace period. Subscription operations were launched with a bond price set at 10,000 FCFA. According to Oragroup SA officials, 70% of the amount requested through this loan will be used to refinance the debt, 20% for the commercial development of the subsidiaries and 10% for strategic projects. Bank officials point out that this enthusiasm is partly explained by the good performance recorded by the bank in the first half of 2021. As a reminder, the pan-African banking group posted a net result of 9.597 billion FCFA, an increase of 581 % compared to the same period last year, and a net banking income of 85.8 billion FCFA, up 22%.

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