Ivory Coast launches new bond

Jun 04, 2013

The Ivorian government has issued this week Fcfa93 billion (€141.7 million) worth of bonds on the financial market of the WAEMU region.

The purpose of this loan, the fourth since Alassane Ouattara came into power, is to partially pay off arrears on domestic debt but also to finance part of the investments planned for the 2013 budget, APS news agency reports.

''Ivory Coast is growing, as evidenced by major development projects and restructuration programs. It is now time to revitalize and stabilize this new growth," said Head of the General Directorate of the Treasury and Public Accounting Adama Koné, during a press conference in Yamoussoukro.

The bond is guaranteed by the State and secured through an account opened at the BCEAO for the settlement of different maturities, he added.

The bond subscription period lasts until July 1st, with 9.3 million units available at €15.24 each.ADNFCR-2976-ID-801593982-ADNFCR