April 8, 2020 / 1:49 PM / in 3 months

Ivory Coast issues domestic bonds worth 110 bln CFA francs

ABIDJAN, April 8 (Reuters) - Ivory Coast has issued 110 billion CFA francs ($183.33 million)in bonds on the West African bourse to help finance its economy, a lead manager of the ongoing auction said on Wednesday.

The auction includes 80 billion CFA francs in ten-year bonds at a 5.90% rate and a 30 billion CFA franc seven-year bond at 5.8%, said the lead manager from BICIBOURSE, the investment banking arm of BICICI, subsidiary of French BNP Paribas.

The bonds, which will be sold in units of 10,000 CFA francs, are being marketed to investors across West Africa’s CFA currency zone from April 6 to 20.

Ivory Coast, Francophone West Africa’s largest economy and the world’s biggest cocoa producer, has tapped international bond markets several times in the past few years. ($1 = 600.0000 CFA francs) (Reporting by Loucoumane Coulibaly; Editing by Juliette Jabkhiro and Nick Macfie)

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