Burkina Faso launches 25 billion FCFA bond issue

Jul 13, 2011

Burkina Faso has just launched a bond issue of 25 billion FCFA (€ 38,1 million).

The Central Bank of West African States (BCEAO) is leading the operation, which extends over a period of three months, APA news agency reports.

"This bond issue shows the Treasury's credibility on the sub-regional financial market," APA quotes the Treasury as saying.

Only regional banks and financial institutions holding an account with the BCAEO will be able to access the bonds.

Other investors will have to go through banks based inside the UEMOA territory.

Chad also launched a bond issue on the Central African market on June 23rd for a total amount of 100 billion FCFA. Each bond is worth 10,000 FCFA and extends over the 2011-2016 period.

The funds collected will be allocated to development projects and to the reduction of the national debt, explained Gata Ngoulou, Chadian Finance Minister, as quoted by Tchad Online newspaper.ADNFCR-2976-ID-800621202-ADNFCR