Ivory Coast issues new CFAF150 billion bond

The bonds were issued on the regional market.

Ivory Coast has just issued a CFAF150 billion (€228.2 million) 7-year bond on the market of the West African Economic and Monetary Union (WAEMU).

The government's objective is to finance large-scale infrastructure investments, said treasury director Adama Koné on September 8th.

The bond has a coupon of 5.85 per cent and will be sold in units of 10,000 CFA francs through September 30th to investors across the region's eight-nation CFA franc currency zone.

Ivory Coast has raised over CFAF132 billion in May through its latest bond offering on the sub-regional market, although CFAF120 billion were initially sought, it was announced this week.

About 90 per cent came from Moroccan operators Actibourse, African Stock Exchange and Atlantic Finance (CFAF120 billion).