Business
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The West Africa Development Bank is issuing a FCTA 40 Billion in December with a 5.95 percent interest
AS part of the implementation of its annual bond issue program, the West African Development Bank, BOAD, is to launch a bond loan issue of FCFA 40 billion through a public offering from December 1 to 19. The bond value will be FCFA 10,000 at 5.95 percent interest, net of taxes. Bonds may be purchased at BOAD headquarters in Lomé, at its resident missions located in the buildings of the national agencies of the BCEAO, or through WAEMU-approved MICs
The funds raised in this new operation will enable BOAD to increase its efforts in support of merchant public sector and private sector projects in the West African Economic and Monetary Union.
With 26 bond lines issued as of the end of October 2014 for over FCFA 750 billion in resources mobilised since its first operation in 1993, BOAD is currently the leading non-sovereign issuer in the regional capital market. Two operations successfully conducted in January and July of this year have made it possible to mobilise around FCFA 180 billion.
Returns, safety and liquidity of BOAD securities are guaranteed based on the institution’s performance, and income from these securities is exempt from taxes and duties.
BOAD is the common development finance institution of the member countries of the West African Economic and Monetary Union, WAEMU. Its missions include promoting the balanced development of its member countries and fostering economic integration within West Africa. As of the end of October 2014, its interventions in support of the Union’s merchant sector totalled FCFA 1956 billion, or around 63 percent of its total commitments of approximately FCFA 3127 billion over the above period.
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