Senegal to issue €68m bond from January 26th
The bond will be sold to investors across the WAEMU region.Senegal will issue a 45 billion CFA franc (€68.5 million) three-year treasury bond on January 26th, the West Africa debt planning agency UMOA-Titres said in a statement.
The bond will be sold in units of 10,000 CFA francs to investors across the WAEMU region via an auction organised by the Central Bank of West African States (BCEAO).
Created in 2013 by the BCEAO, 'UMOA-Titres' is a regional agency that helps States in the region to issue public debt securities. It coordinates and structures bond issuance programs.
The last bond from the state of Senegal was issued at the end of October 2015 on the regional market, with a view to raise 50 billion CFA francs to finance investment projects included in the 2016 Finance Law.
Part of the amount borrowed was also used to reduce the budget deficit in Senegal in 2015, valued at about 396.2 billion CFA francs, the APS news agency learned from an employee at the Senegalese Treasury.