Third bond issue to finance energy and infrastructure launched

Cameroon Minister of Finance Alamine Ousmane Mey has launched the third bond issue 2014-2019 in Douala.

Subscriptions were opened on Tuesday and will run until 23 December 2014. They fall under the ECMR 150 billion CFA francs operation.

The third bond issue launched by the State of Cameroon comes after those for 2010 (200 billion CFA francs) and 2013 (80 billion CFA francs). It was developed by the CBS Cameroon, the local subsidiary of the Moroccan banking group Attijariwafa.

To finance structural projects in the energy and infrastructure sector, the 3rd bond that goes from 2014 to 2019 will be paid at 5.5% net per year. In total, 15 million of bonds in the amount of 10,000 CFA francs each, will be issued.

According Mr. Alamine Ousmane, the rate is down and "it reflects the enthusiasm continued expression of investors for Treasury bonds of the State of Cameroon". The Francophone finance minister also invited investors to trust in Cameroon.