Benin has just successfully closed a simultaneous bond issue by Public Call for Savings of one hundred and fifty (150) billion FCFA.
This issue is divided into two instalments: the “TPBJ 5.50% 2022-2037” for an indicative amount of 60 billion FCFA with an annual interest rate of 5.50% and the “TPBJ 5.85% 2022-2042” for 90 billion CFA francs with an interest rate of 5.85% per year. This issue was launched to cover the investment needs of structuring projects, particularly in sectors such as agriculture, education, health and public works contained in the PAG 2, whose ambition is to make Benin economy a successful economy.
Led by a consortium of SGI Benin (SGI-BENIN as the Operation Leader, SGI AFRICABOURSE and BIIC FINANCE SECURITY), the bond loan was a great success with an oversubscription and was closed in advance on Tuesday, February 22, 2022 with a total amount mobilized of one hundred and fifty five billion three hundred and eighty-nine million two hundred and fifty thousand (155,389,250,000) CFA francs, meaning a coverage rate of 103.60%. Indeed, launched on February 14, this operation was supposed to last 3 weeks and come to an end on March 4, 2022.
The dynamism of SGI-BENIN and the other members of the consortium has allowed to make various investors concur with the need of supporting the efforts of Benin Government. The consortium thanks all of the investors who participated in the operation and invites them to support the various WAEMU countries in raising funds to boost their economies.
Adapted and Translated from French into English by:
CEO at LMS (www.lmsgroupafrica.com)
American Translators Association (ATA) Associate Member