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Yaoundé - 19 October 2019 -
Finance

Cameroon seeks XAF10 bln in fungible treasury bonds on Beac securities market

Cameroon seeks XAF10 bln in fungible treasury bonds on Beac securities market
  • Comments   -   Wednesday, 22 May 2019 13:13

(Business in Cameroon) - Cameroonian treasury is issuing today May 22, through a tender, XAF10 billion worth of fungible treasury bonds (OTAs) maturing on May 24, 2022 (3 years).

According to a Beac statement, bidding will be submitted with CEMAC banks and financial institutions approved as “Primary Dealers” (SVTs) by the Cameroonian Finance Minister.

The seventeen approved SVTs include International Bank of Cameroon for Savings and Credit (BICEC), International Bank of Gabon for Trade and Industry (BICIG), BGFIBANK Gabon, Crédit du Congo, Ecobank Cameroon, Ecobank Central Africa, Société Commerciale de Banque (SCB) Cameroun, Société Générale (SG) Cameroon, Standard Chartered Bank Cameroon (SCBC), Union Bank of Cameroon Limited (UBC), etc.

This fundraising operation is a challenge for Cameroon, which often issues 26-week treasury bills (BTAs). These short-term debt securities, along with those with a 13-week maturity, are the most sought after on the market, compared to OTAs, medium- and long-term securities that are not very popular with investors.

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