RABAT: Ivory Coast raised 150bn CFA francs ($315m) in the regional market and hired banks for a $500m Eurobond issue, Morocco’s BMCE Bank , one of the banks hired to manage the deals, said yesterday.
Ivory Coast said earlier it would issue around $1bn in sovereign debt on the international market this year in a combination of dollar Eurobonds and local CFA franc-currency bonds.
BMCE Bank said its African subsidiary, Bank Of Africa, is one of the lenders hired by the government to issue $500m Eurobond in 2014. The 150bn CFA francs seven-year bond with a 6.5 percent coupon was fully subscribed within 48 hours by investors from Benin, Burkina Faso, Ivory Coast and others.Reuters
