May 27, 2020 / 11:26 AM / a month ago

Ivory Coast issues domestic bonds worth 110 bln CFA francs

ABIDJAN, May 27 (Reuters) - Ivory Coast is issuing 110 billion CFA francs ($184 million) in bonds on the West African bourse to help finance its economy, a lead manager of the ongoing auction told Reuters on Wednesday.

The auction includes 80 billion CFA francs in seven-year bond at a 5.8% rate and a 30 billion CFA francs ten-year bond at 5.9%, said the lead manager from NSIA bank.

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 May 19 to June 11.

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 = 598.2200 CFA francs Reporting by Loucoumane Coulibaly; Editing by Juliette Jabkhiro and Toby Chopra

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