Cameroon has raised 71 billion FCFA at the end of a 5-year fungible Treasury bonds issuance (T-bonds) operation on April 8, 2020.
Investors we are told offered up to 75 billion FCFA but, considering the conditions in the money market, the country decided to keep 71 billion FCFA at an interest rate of 5.7%.
The operation, initially aimed at raising between 50 billion FCFA and 100 billion FCFA, is part of a series of three, initiated to raise 220 billion FCFA in the money market for various investment projects.
The second operation is scheduled for April 15, 2020, is to raise 20 billion FCFA with the issuance of 3-year fungible Treasury bondsat a 4% interest rate. The 3rd round of the series will take place on April 29, 2020, with the issuance of 2-year T-bonds to raise 50 billion FCFA with a 3.5% interest rate. According to our sources, in case the funds raised during the three rounds of operation are below Cameroon’s expectation, the country will organize a sub-operation in October 2020 to raise the amount remaining for its 220 billion FCFA target.