Cameroon Raises 153 Billion CFA Francs in Third Bond Issue
31 December 2014
Read by 3177 persons
Oversubscription of 102%, lower than last year's 160%. Local banks subscribed 100 billion CFA francs, with SCB Cameroon, the arranger of the operation, contributing nearly 50%.
Subscription of 153 billion CFA francs (233 million euros) at the end of the "ECMR 5.5%" bond issue of 150 billion. "This demonstrates the quality of the Cameroonian state's signature," rejoiced Alamine Ousmane Mey, the Minister of Finance, on December 26.
A 102% performance for this third bond issue, less than the 160% oversubscription of last year, which saw Cameroon collect 80 billion CFA francs, while it had applied for 50 billion.
Participation of Cameroonian Banks
The mobilization of this amount is largely due to SCB Cameroon whose overall subscription is almost 50%. As prescribed by the agreement between the issuer and the arranger, the Attijariwafa Bank subsidiary had already made a firm commitment of 50 billion CFA francs from the beginning of the subscription period.
Cameroonian banks subscribed for 100 billion CFA francs, Alamine Ousmane Mey specified, the remainder having been subscribed by individuals and other institutional investors such as insurance companies.
jeuneafrique.com
Subscription of 153 billion CFA francs (233 million euros) at the end of the "ECMR 5.5%" bond issue of 150 billion. "This demonstrates the quality of the Cameroonian state's signature," rejoiced Alamine Ousmane Mey, the Minister of Finance, on December 26.
A 102% performance for this third bond issue, less than the 160% oversubscription of last year, which saw Cameroon collect 80 billion CFA francs, while it had applied for 50 billion.
Participation of Cameroonian Banks
The mobilization of this amount is largely due to SCB Cameroon whose overall subscription is almost 50%. As prescribed by the agreement between the issuer and the arranger, the Attijariwafa Bank subsidiary had already made a firm commitment of 50 billion CFA francs from the beginning of the subscription period.
Cameroonian banks subscribed for 100 billion CFA francs, Alamine Ousmane Mey specified, the remainder having been subscribed by individuals and other institutional investors such as insurance companies.
jeuneafrique.com
