Cameroon’s autonomous amortization fund (CAA), the country’s public debt manager, declared that Cameroon has repaid since October 18, 2017, more than CFA9 billion, out of the debt it contracted under the “ECMR 5,5% net 2016-2021” bond issuance.
Fourth bond ever issued by Cameroon, on September 20, 2016, the “ECMR 5,5% net 2016-2021” bond aimed at raising CFA150 billion. It was subscribed at a rate of 115.43%.
Seeking funds for the execution of its large program of investment in infrastructure, started in 2012, Cameroon requested and got an over-allotment from the local financial market regulator; this finally allowed the country to secure CFA165 billion from investors.
Arranged by the consortium Afriland First Bank, EDC Investment Corporation and Société générale du Cameroun, the bond helped partially finance projects in the sector of road, drinking water supply and electrification. Such projects include the supply of drinking water to Yaoundé and its surroundings from the Sanaga River (CFA61.5 billion) and the construction of the Kribi port (CFA16 billion).
With businessincameroon
