(Business in Cameroon) - The Cameroonian Minister of Finance, Louis Paul Motazé, closed the roadshow of the country’s 6th bond issue yesterday May 23 in Yaoundé. According to reliable information, Cameroon now intends to raise more than the CFA200 billion initially announced.
“Our objective is to reach CFA250 billion,” a source told Business in Cameroon. As a reminder, during the roadshow through Gabon, Congo, and Cameroon, the Minister has always highlighted the enormous financing needs of the state. “If I get more than CFA200 billion, I'll take it," he told investors on May 17 in Douala.
Subscriptions with the 27 members of the underwriting syndicate distributed across the Cemac zone are scheduled to end tomorrow May 25. Results will be unveiled 8 working days after the transaction ends, at the latest.
Let's recall that, even before the opening of subscriptions, the four loan arrangers selected by the State had already guaranteed underwritings of CFA180.5 billion. The bond issue pays 6.25% and has a maturity of 7 years, including a 2-year grace period.