Niger to issue CFAF30 billion bond
The country has already successfully issued Treasury bonds on financial markets.Niger will today (September 8th) issue a 30 billion CFA franc (€46.2 million) five-year Treasury bond, the Director of the Treasury Zourkaleini Souleymane said in a statement.
The bond, that has a six per cent coupon, will be sold in units of 10,000 CFA francs to investors across the eight-nation CFA franc currency zone via an auction organised by the Central Bank of West African States.
The country has already successfully issued Treasury bonds on financial markets. In 2013, the financial authorities of Niger issued a Treasury bond that was deemed a "total success", raising more than CFAF15 billion.
"These results are a testament to the complete success of the transaction, reflecting the dynamism of market players as well as confidence in the quality of the issuer," said the National Directorate of Central Bank of West African States (BCEAO) for Niger in a statement.
He added the bond issue contributed to animating the regional market of government securities - which gives UEMOA Member States an alternative source to cover their cash needs.