(Business in Cameroon) - The Cameroonian Minister of Finance, Louis Paul Motazé (pictured), launched today the roadshow for Cameroon’s 6th bond issue. The Treasury seeks to raise CFA200 billion on the unified financial market of Central Africa (Bvmac) for infrastructure projects.

The roadshow will be conducted in Cameroon, Gabon, and Congo. The delegation will first stop in Libreville, the Gabonese capital, today May 16. Douala will follow tomorrow May 17 and Brazzaville, the Congolese capital, on May 18. The roadshow ends on May 23, 2022, in Yaoundé.

Cameroon, which used to offer interest rates below 6% on the local financial market, is now offering 6.25% per annum, for a maturity of 7 years (including a 2-year grace period), also longer than the usual 5 years. The four arrangers, who will lead the bond issue have already guaranteed CFA180.5 billion as underwriting. They have also fostered a large underwriting syndicate, which is composed of 27 banks and other brokerage firms operating in the Cemac zone. Raising the remaining CFA19.5 billion or more should not be that hard for the syndicate. This will enable Cameroon to secure more funding, by requesting an over-allocation of additional resources from the regulator Cosumaf.

BRM