Burkina Faso’s loan extended by 10 days

Burkina Faso’s loan extended by 10 days
Burkina Faso’s loan extended by 10 days

Started on April 11, the bond issue of 120 billion CFA francs from Burkina Faso was to be completed on May 2. According to our information, the subscription period has been extended by around ten days. Institutionals and investors active in the financial market of the West African Economic and Monetary Union (UEMOA) will not have rushed to the gate, murmurs an analysis from one of the SGI members of the investment syndicate.

This public call by savings (TPBF 6.3% – 2024-2029), at a unit price of 10,000 FCFA and at an annual interest rate of 6.3% over 5 years, and 6.55% over 7 years respectively , has as its main arranger and lead manager the African Society for Financial Engineering and Intermediation (SA2IF), an SGI founded in 2022 with SGI Togo and SGI Benin as co-lead managers of the operation.

The teams of the Burkinabe Minister of Economy, Finance and Foresight, Dr Nacanabo Aboubakar, (photo), are counting on this loan, the first by syndication in 2024, to relieve the public Treasury.

The loan comes in a context of rising rates and difficulties in honoring their maturities on the part of certain issuers such as Niger. Burkina Faso will have to work harder on lobbying to convince a conservative market, dominated by institutions and banks.

As a reminder, Ouagadougou plans to mobilize up to 1,220 billion FCFA in 2024 on the sub-regional financial market.

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