Ivory Coast: New €365 million bond planned for 2014

Dec 23, 2013

Ivory Coast is planning to issue a $500 million (€365.2 million) bond on the international financial markets next year, announced Chief of Staff of the Ivorian Prime Minister Ahoutou Emmanuel.

Ivory Coast is planning to issue
a
$500 million (€365.2 million) bond on the international financial markets next year, announced Chief of Staff of the Ivorian Prime Minister Ahoutou Emmanuel.

According to US magazine Bloomberg, the country will issue this bond in the first half of 2014, with a maturity of five years.

The objective is to finance major development projects planned under the National Development Plan 2012-2015.

This announcement comes
after
the country launched a previous bond in November on the WAEMU financial markets - seeking an amount of
CFAF91 billion
($138.8 million) - and a second bond in May.

The latter exceeded the government's expectations, generating about CFAF121 billion (€184.2 million), while the general direction of the Public Accounting and Treasury sought to raise CFAF93 billion, reflecting investors' sustained confidence in the economy of Ivory Coast.ADNFCR-2976-ID-801675368-ADNFCR