Oragroup is looking to raise €23 million on the WAEMU market

Nov 13, 2013

The banking group Oragroup SA launched a public offering in the financial market of the West African Economic and Monetary Union (WAEMU) on October 30th.

The banking group
Oragroup
SA
launched a public offering in the financial market of the West African Economic and Monetary Union (WAEMU) on October
30th.

Director General of
Oragroup
Patrick
Mestrallet
said at the official launch of the
bond
last Friday that this initiative will enable the company to consolidate its role as leader in the financing of the economies of the sub-region, Le
Soleil
newspaper reports.

He added that the appeal, which is expected to raise
CFAF15
billion (€22.9 million), will allow the group to complete the financing of the acquisition of the Regional Solidarity Bank (CFAF8.4 billion) and fully refund loans taken for the acquisition of the
Togolese
Development Bank (CFAF6.6 billion).

The loan is secured in capital and interest up to 70 percent by the West African Development Bank and 30 percent by the African Solidarity Fund. The subscription period is open until 29 November 2013.ADNFCR-2976-ID-801659970-ADNFCR