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Ivory Coast to issue domestic bonds worth $184 million - REUTERS

FEBRUARY 17, 2020

ABIDJAN (Reuters) - Ivory Coast is issuing 110 billion CFA francs ($184 million) in bonds on the West African bourse to finance infrastructure projects, two lead managers of the ongoing auction told Reuters on Monday.

The auction includes 80 billion CFA francs in seven-year bond at a 5.8% rate and a 30 billion CFA franc ten-year bond at 5.9%, said the lead managers from NSIA bank and SOGEBOURSE, the investment banking arm of bank SocGen.

The bonds, which will be sold in units of 10,000 CFA francs, are being marketed to investors across West Africa’s CFA currency zone from Feb. 12-25.

Ivory Coast, Francophone West Africa’s largest economy and the world’s biggest cocoa producer, has tapped international bond markets several times in the past few years.

($1 = 595.1000 CFA francs)

Reporting by Loucoumane Coulibaly, writing by Anna Pujol-Mazzini, editing by Aaron Ross and Alex Richardson

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