Cameroon to raise XAF30 billion on the BEAC debt market
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Comments - Thursday, 10 September 2020 16:02
(Business in Cameroon) - Cameroon is planning to raise XAF30 billion on the Bank of Central African States (BEAC) debt market.
According to the Ministry of Finance, which disclosed the information, this fundraising is carried out to fund the investment programs contained in the 2020 finance law. The Ministry also informs that these funds will be raised via the issuance of fungible treasury bonds maturing in three years. They will be auctioned from September 11-16, 2020, at 11 a.m. The interest rate of the securities is 4%.
From January 1 to August 31, 2020, Cameroon raised XAF524.13 billion on the BEAC’s debt market by issuing both treasury bonds and bills. On August 31, 2020, the overall volume of securities to be settled by Cameroon in the market was estimated at XAF1,444.985 billion; 91.54% of these securities are owned by residents and 6.15% by non-residents.
S.A.
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