Next Thursday, May 14, Togo will issue its Covid-19 social bonds. The country announced this on the UEMOA stock market, indicating that it will seek a total of XOF108 billion. The bonds, which will be issued at multiple rates, have a nominal value of XOF1 million per unit. They will mature over three months.
Approved by the Central Bank of West African States (BCEAO), the Covid-19 bonds should help countries affected by the pandemic in dealing with costs arising from their respective responses.
It should be noted that despite the current crisis, Togo appears to still have the trust of investors on the UEMOA market. For its latest issuance on the platform last week, the country successfully raised XOF38.5 billion.
Ayi Renaud Dossavi/Togo First