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BOND ISSUE 2018-2023 : Cameroon to complete  payment in November

Cameroon, through the Ministry of Finance is set to repay the fifth and last maturity under the ECMR 5.6 % net 2018-2023 bond, by  November 15, 2023. This is the content of the press release by the Bank of Central African States (Beac).

According to a press release published by the Bank of Central African States (Beac), the Sole Central Depositary (DCU) of Cemac securities, the Cameroonian treasury will repay the fifth and final maturity bond worth 52.8 billion FCFA. The payment will be made available to investors who have subscribed to this operation launched in 2018. In detail, 50 billion francs will be repaid as amortization of the capital of this loan and 2.8 billion representing the interest generated.

For the subscribers, « the net coupon to be collected per bond would be 2,640 FCFA (i.e. 2,500 FCFA for the amortization of the principal and 140 FCFA for the payment of interest) and the opening date for collection operations with the Exchange companies is set for November 16, 2023 », details the DCU press release signed by the Director of International Relations of the Beac, Mahamat Djibrine. The last refund on this value dates from November 15, 2022. The Cameroonian state then proceeded to reimburse 55.6 billion, i.e. 50 billion for the amortization of the main capital and 5.6 billion for the interest generated. After the total repayment, this value issued for a maturity of 5 years will be written off from the sub-regional stock exchange (Bvmac) where it is listed.

Launched in 2018, the Cameroonian state’s public tender offer aimed to mobilize the sum of 150 billion FCFA. The operation had been oversubscribed by investors in the region who had offered up to 207 billion to the country. In search of financing for its major projects, the state had then obtained from the regulator an authorization to capture 50 billion FCFA additional on the initial amount requested, thus bringing to 200 billion the total of its envelope.

The Cameroonian government owes the success of this loan to a pool of 9 banks and financial institutions operating in the country. According to consistent sources, they had already guaranteed a contribution of 121.5 billion even before the opening of subscriptions. In addition, a legal grouping had been formed in 2019 to represent all the subscribers to this loan. These are SCB Cameroon (banking legal entity), the Regional (Non-banking legal entity) and Suzanne Ngo Bikoi (Natural person).

The money thus mobilized was primarily intended (at 70 %), for the construction of infrastructure to host the African Cup of Nations (CAN) 2021. Among which are the Olembe sports complex, the Japoma complex, the auxiliary stadiums and the access roads, to which is added the Douala Reunification stadium.

Sorelle Ninguem

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