Ivory Coast is­sues $250mn bond for In­fra­struc­ture fi­nanc­ing

Daily Trust - - REUTERS -

Ivory Coast be­gan the sale on Mon­day of an 8-year 120 bil­lion CFA franc ($253.14 mil­lion) bond with a 6.55 per­cent coupon, one of the bond’s leading man­agers said.

The bond will be listed on West Africa’s BRMV bourse and mar­keted to in­vestors across the re­gion’s CFA cur­rency zone from April 28 to May 15. It will be sold in units of 10,000 CFA.

“The bond will be used to fi­nance the con­struc­tion of in­fra­struc­ture,” an of­fi­cial at So­ge­bourse, one of the leading man­agers of the bond is­sue and a sub­sidiary of So­ci­ete Gen­erale’s lo­cal unit, told Reuters.

Ivory Coast, the world’s top co­coa pro­ducer and French­s­peak­ing West Africa’s largest econ­omy, is re­cov­er­ing from a decade-long po­lit­i­cal cri­sis that ended in a brief 2011 civil war.

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