Cameroon's bond oversubscribed, but Chad and Gabon fail to woo investors
The three countries had different outcomes on the regional bond market.Cameroon, Chad and Gabon had mixed results after issuing bonds on the government securities market of the Bank of Central African States' (BEAC's), between July 20 to 27.
Cameroon raised 16.5 billion CFA francs (€25.2 million) despite only seeking seven billion CFA francs, representing a subscription rate of 235 per cent.
However, Gabon only raised four billion CFA francs out of the five billion requested, and Chad only secured 11.2 billion CFA francs out of the 20 billion CFA francs initially sought, representing a subscription rate of 56 per cent.
The Western and central African regions are seeing a recovery in the field of sovereign bonds. Benin has in particular managed to raise 202 billion CFA francs on the regional market in July, and is to repeat the experience before the end of the year.
The Cameroonian and Gabonese Treasuries will also issue another bond on the financial market of the BEAC on August 3rd, seeking seven billion CFA francs and six billion CFA francs respectively.