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BORROWING 2021-2025 : Alios Finance Cameroon to Repay 675 million FCFA to Subscribers

Alios finance Cameroon (AFC), issuer of the value “ALIOS 5.40 % GROSS 2021-2025” will proceed to the payment of 675 million FCFA to subscribers to this loan which runs until 2025. The lessor is set to begin cashing out payment by November 11 2023.

In the repayment envelope, 610.1 million FCFA are intended for the amortization of the principal and 65.8 million FCFA, allocated to the payment of interest generated by the fundraising. It can be read from the manifesto of the General Manager of the Central African Securities Exchange (Bvmac), Louis Banga Ntolo “the gross coupon to be collected by subscribers per obligation amounts to 791.43 CFA francs (i.e. 714.29 CFA francs for the amortization of the principal and 77.14 CFA francs for interest)”. Cashing operations will begin on November 11, 2023 at the counters of the Stock Exchange Companies. The last repayment on this value dates from August 10, 2023 with a repayment of F 684.3 million : F 610.1 million for the amortization of the principal amount and F 74.1 million for the interest generated.

After raising respectively 8 billion at the rate of 5.75% in 2018 and 8.5 billion FCFA paid at 5.40 % in 2021, AFC has reappeared this year 2023 with two major operations on the Cemac financial market. The first, called “EO Alios Finance CAM 2023-2028”, approved by the Central African Financial Market Surveillance Commission (Cosumaf), consists of a loan of 10 billion, in multiple installments arranged by BGFI Stock Exchange.

In detail, this operation consists of an issue of 1 million bonds at a unit price of 10,000 francs, divided in two tranches with different rates. The first, paid at 6 % over three years, covers an envelope of 3 billion FCFA, while the second covers five years and is backed by an annual remuneration of 6.5 %. Alios Finance is thus the second issuer to launch multiple-rate bonds on the Cemac market this year after the State of Cameroon. The subscribed securities will be registered with the Bvmac, which allows the holders to be able to sell them before maturity and possibly release capital gains. This envelope is mainly intended to finance AFC’s “Development Strategy for 2028”.

Secondly, Alios Finance Cameroon received the green light from the Central Bank to issue medium-term negotiable bonds on the negotiable receivables market (TCN) of Beac, last September 14. Alios thus becomes the second institution to solicit the TCN market to finance itself. Last March, Afriland First Bank inaugurated this hitherto unexploited compartment, which allowed it to obtain 20 billion over seven years.

Sorelle Ninguem

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