Ivory Coast plans to issue 135-billion CFA francs ($2430million) in domestic bonds to finance its infrastructure development, a lead manager of the auction said on Tuesday.
The auction includes 90-billion CFA francs in seven-year bond at a 5.8% interest rate, and a 45-billion CFA franc 10-year tranche at 5.9% coupon, according to the lead manager from NSIA bank.
The bonds, sold in units of 10 000 CFA francs, are being marketed to investors across West Africa's CFA currency zone from September 17 to 30.
Ivory Coast, Francophone West Africa's largest economy and the world's biggest cocoa producer, has tapped international bond markets several times in recent years.
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
