SGI AFRICABOURSE arranges the second tranche of the Commercial Paper Issuance Program for the VETO SERVICES S.A Group for 1.5 billion FCFA. An amount to be mobilized during the period from 04 to 25 November 2019, ie 300 securities with a nominal value of 5 million CFA francs, with a maturity of 24 months and an interest rate of 7.5% gross per year.
These are the characteristics of the second tranche of the CFAF 3 billion global loan that the Veto Services S.A Group (GVS – S.A) is issuing to UEMOA investors and beyond. This operation follows the first tranche of 1.5 billion FCFA successfully mobilized at the beginning of 2019 with SGI AFRICABOURSE.
Very active in the Beninese market in the supply of veterinary drugs and zootechnical inputs, GVS S.A will inject these resources into its activities, to meet its liquidity needs in the short term. The operation is authorized by the Central Bank of West African States (BCEAO) under the identification number: B301011B4BT 7.5% 12 2019-2021. It is arranged by the AFRICABOURSE Management and Intermediation Company and is backed by a 100% guarantee from the African Solidarity Fund (FSA).
100% guarantee and with a gross interest rate of 7.5% per annum, there is no doubt that the transaction will arouse the appetite of investors.