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Cameroon plans to raise XAF335 bln on the BEAC money market in Q2-2020 via issuance of various public securities

Cameroon plans to raise XAF335 bln on the BEAC money market in Q2-2020 via issuance of various public securities
  • Comments   -   Tuesday, 12 May 2020 14:06

(Business in Cameroon) - Cameroon plans to raise XAF335 billion by issuing various public securities on the BEAC money market between April and June 2020. This figure is revealed in the provisional calendar recently published by the BEAC.  

During the period, the country will issue four T-bills with maturity ranging between 26 and 52-weeks to raise XAF80 billion. It will also seek long-term financing (XAF225 billion) by issuing T-bonds for investment projects.

According to the above-mentioned provisional calendar, in addition to the T-bonds it already issued on 8, 15, 29 April and 6 May 2020 (raising a total of XAF166.7 billion), Cameroon will carry out two new T-bonds operations on May 27, 2020. With those two operations, the government intends to mobilize an additional XAF60 billion to complete its XAF220 billion fundraising series

On the May 27 operation, subscriptions to the April 8 T-bonds will be extended to raise an additional XAF30 billion. That same day, the country will also issue 7-year T-bonds backed by a 6.5% interest rate, to raise XAF30 billion (instead of the XAF25 billion initially planned).

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