RABAT, March 3 Ivory Coast raised 150 billion
CFA francs ($315.83 million) in the regional market and hired
banks for a $500 million Eurobond issue, Morocco's BMCE Bank
, one of the banks hired to manage the deals, said on
Ivory Coast said earlier it would issue around $1 billion in
sovereign debt on the international market this year in a
combination of dollar Eurobonds and local CFA franc-currency
BMCE Bank said its African subsidiary, Bank Of Africa, is
one of the lenders hired by the government to issue $500 million
Eurobond in 2014.
The 150 billion 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, the statement
Ivory Coast's 2032 Eurobond has emerged as one of non-oil
producing Africa's best-performing credits after the country
secured $4 billion in debt relief in June 2012 under the
IMF-World Bank scheme.
With Ivory Coast's crisis now over, the government of
President Alassane Ouattara has resumed coupon payments on its
defaulted $2.5 billion Eurobond, which matures in 2032, and has
launched a major overhaul of long-neglected infrastructure.
($1 = 474.9350 CFA francs)
(Reporting By Aziz El Yaakoubi, Editing by Angus MacSwan)