Gabon and Togo to issue new bonds
The Gabonese government will issue 98 billion CFA francs and Togo 20 billion CFA francs.Gabon and Togo are preparing to issue bonds on their regional financial markets.
The Gabonese government will issue 98 billion CFA francs (€ 149.4 million) worth of bonds from June 1st to 7th, 2016 on the financial market of the Economic and Monetary Community of Central Africa (CEMAC).
The objective of this public offering is to raise money to achieve several urban development and infrastructure projects in the cities of Libreville, Port-Gentil, Franceville, Oyem and Bitam.
In September 2015, the Gabonese government had successfully issued a loan of 80 billion CFA francs, which was oversubscribed by 106 per cent.
Togo is also preparing to issue this week 20 billion CFA francs in treasury bonds on the market of the West African Economic and Monetary Union (WAEMU).
The country's last bond dates back to January 14th, 2016, reaching a total amount of 30 billion CFA francs, with the aim to finance government infrastructure projects.