EBID launches a bond loan to the BRVM

The ECOWAS Investment and Development Bank (EBID) launches a Bond Loan of 50 billion CFA Francs ($ 91.5 million) on the financial market of the West African Economic and Monetary Union (UEMOA), May 10 to 24, 2021. This is a great first this year for the BRVM bond compartment, positioned on long-term solicitations.

The institution, chaired by the Ghanaian George Agyekum Nana Donkor, thus takes an important step in its new vision centered on the intensification of the mobilization of resources in the service of the financing of the development infrastructures of West Africa. The money mobilized under this loan is intended to finance development projects in the UEMOA zone. The public offering, which should, unless anticipated, be closed on May 24 offers an exceptional rate of 6.50% per year for 7 years. The operation is arranged by SGI Impaxis Securties which thus signs its second major operation in a year apart, after supporting Sonatel (SONATEL Bonds 6.50% – 2020-
2027) in July 2020 for its record loan of 100 billion FCFA. This quality fresh paper, backed by a leading financial institution, is good news for the BRVM’s bond compartment, for institutional and individual investors looking for diversification.

The ECOWAS Investment and Development Bank (EBID) is the financial arm of the eponymous zone. To date, EBID has approved the financing of two hundred and ninety-eight (298) projects for an amount of two billion and seventy million units of account (UA 2.07 billion), or approximately two billion eight hundred and eighty-four million dollars ($ 2.84 billion).

LEAVE A REPLY

Please enter your comment!
Please enter your name here