Togo just raised CFA66 billion on the regional financial market through two simultaneous bond issues. Investors in the region pumped around CFA153 billion in the issues, from which Lomé was expecting 60 billion.
The issues recorded a 255% subscription rate; a performance that reflects investors’ confidence in Togolese securities, and a market afloat. The proceeds should finance the government’s Covid-19 recovery plan.
Since the year began, Togo has raised, including the latest issues, over CFA502 billion on the WAEMU market.
Regarding the recent debt issues, they will mature over 7 and 10 years respectively, at 5.9% and 6.1% per year (fixed).
