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Yaoundé - 10 December 2016 -
Finance

Regulatory body of the Cameroonian financial market authorises over-allocation of State bond loan, to FCfa 165 billion

Regulatory body of the Cameroonian financial market authorises over-allocation of State bond loan, to FCfa 165 billion
  • Comments   -   Wednesday, 19 October 2016 06:14

(Business in Cameroon) - Instead of the FCfa 150 billion requested as part of its “ECMR 5.5% net 2016-2021” bond loan, the State of Cameroon will finally request for FCfa 165 billion, thus an additional FCfa 15 billion. In accordance with the regulation, the over-allocation of this loan, we learned via an official communiqué, was duly authorised by the Financial Markets Commission (CMF), the regulatory body of the Douala Stock Exchange (DSX), the stock market in Cameroon.

According to the same source, in order to collect the FCfa 165 billion, the State of Cameroon, arrangers and investment syndicate of this bond favoured the stocks subscribed by non-banking investors and companies, thus over 6 million stocks. As a reminder, seven banks and one financial institution selected as arrangers and dealers as part of this operation, had already taken firm commitments of FCfa 112 billion in total (approximately 70% of the requested amount) even before the launch of the subscriptions. They took place from 27 September to 12 October 2016.

BRM

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