(Business in Cameroon) - The Development Bank of Central African States (BDEAC) announced the launch of its third consecutive bond issue on the Douala-based Central African Stock Exchange (Bvmac).
After raising CFA100 billion on this market in 2020 and 2021, BDEAC now seeks CFA78 billion. Interest rate on the new bond issue is 6% with a maturity of 7 years and subscriptions run from December 7 to 21. This remuneration is higher than the 5.45% and 5.6% respectively offered to investors during the 2020 and 2021 loans.
The third loan will allow the bank to close its three-year funding search, which was launched in 2020, on a positive note. Last year, for its 2021 loan, which was finally oversubscribed at CFA115 billion, BDEAC said “the new resources, which constitutes the second phase of a plan to raise CFA300 billion [over the period 2020-2022], should consolidate the Bank's readiness to respond to various calls for funds, within the framework of integrating projects; and support economic recovery by strengthening financing of the private sector”.