Togo: successful first issued bonds to support economic recovery
The latest bond issue of Togo on the WAEMU securities market was oversubscribed with investors raising CFA112.69 billion.
This was reported last Friday by the Umoa-Titres agency which arranged the operation. The latter, let’s recall, aimed at supporting Togo’s economy in its efforts to recover post-Covid.
The coverage rate for the issue was 563.48%. This is an astonishing performance considering that Lomé was only seeking CFA20 billion.
Out of the total mobilized, however, the treasury will retain CFA22 billion.
As a reminder, bonds issued will mature over five (5) years. The corresponding interest rate is 6.1% per annum.
Source: Togo First