Published on 16.05.2023 at 4:00 p.m. by Gabon Review
The Gabonese government, issuer of the “EOG 6% NET 2021-2026” security, will proceed on June 4, 2023 to the reimbursement of the second installment of the said loan for an amount of 58,536,602,500 CFA francs, or 47,206,937,500 FCFA for the reimbursement of the principal and 11,329,665,000 FCFA for the payment of interest.
According to a notice from the Central African Stock Exchange relating to the amortization of the principal and payment of interest of the value “EOG 6% NET 2021-2026”, the Ministry of Economy and Recovery of Gabon , issuer of the said security, will initiate on June 4, the operation to repay the second installment of the said loan for an amount of 58,536,602,500 CFA francs. These are 47,206,937,500 FCFA for the repayment of the principal and 11,329,665,000 FCFA for the payment of interest.
According to the director general of the BVMAC, Louis Banga Ntolo, the net coupon to be collected per bond amounts to 3,100 FCFA (i.e. 2,500 FCFA for the amortization of the principal and 600 FCFA for the interest). Collection operations will begin on June 5, 2023 at the counters of brokerage firms. Gabon’s 2021-2026 bond issue concerned the mobilization of a total envelope of 175 billion CFA francs, from investors in the sub-region through the financial market, by public call for savings (APE), remunerated at the annual rate of 6% net with a one-year deferral. Arranged by the Cameroonian Emrald Securities Services Bourse (ESS Bourse), it was oversubscribed to the tune of 188.82 billion FCFA.
The funds collected through this operation were, among other things, intended to clear part of the country’s internal debt, and to finance the priority projects of the 2021-2023 Plan to Accelerate the Transformation of the Gabonese Economy. The aim is to maintain at an appreciable level, public investment in basic infrastructure and by supporting the participation of local economic operators in economic growth and particularly in that of priority sectors. This objective was also materialized with the Gabonese State’s 2022-2028 bond loan, the requested envelope of which was also 175 billion FCFA.
Source: Gabon Review
