Cameroon plans to issue €275 million bond in June 2014

Jan 16, 2014

Cameroon is planning to issue a Cfaf180 billion (€275 million) bond in June, according to the Bank of Central African States (BEAC).

Cameroon is planning to issue a Cfaf180 billion (€275 million) bond in June, according to the Bank of Central African States (BEAC).

This announcement comes
after
the West African country submitted its provisional issuance calendar for government securities in 2014.

According to Ecofin new agency, citing sources close to the matter at the Treasury Department of the Ministry of Finance, this operation could be launched on the government securities market of the BEAC or at the Douala Stock Exchange (DSX).

Cameroon's previous bond issue in December 2013 was launched on the domestic financial market to raise Cfaf50 billion (€76.2 million).

The country
issued Cfaf250 billion (€381.1 million) worth of bonds on the market of the Central Bank of CEMAC States (BEAC) in 2013.

It is hoped the bond debt will contribute to financing large investment programmes, such as port or energy infrastructure projects.

The objective is also to diversify financing sources for the national economy through the financial markets.

"We want to reach to consumers and private enterprises, away from institutional sources," Finance Minister Alamine Ousmane Mey told Xinhua news agency.ADNFCR-2976-ID-801682799-ADNFCR