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The latest bond issue of Togo on the WAEMU securities market was oversubscribed with investors raising CFA112.69 billion.

This was reported last Friday by the Umoa-Titres agency which arranged the operation. The latter, let’s recall, aimed at supporting Togo’s economy in its efforts to recover post-Covid.

The coverage rate for the issue was 563.48%. This is an astonishing performance considering that Lomé was only seeking CFA20 billion.

See more: African economies projected to rebound in 2021

Out of the total mobilized, however, the treasury will retain CFA22 billion.

As a reminder, bonds issued will mature over five (5) years. The corresponding interest rate is 6.1% per annum.

Source: Togo First

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