West African Franc Zone Plans $5.8 Bln Debt Issuance In 2016
The eight nations of the West African franc zone plan to issue a 3,409 billion CFA Franc ($5.8 billion) bond in 2016, up from 3,304.3 billion CFA last year, the region’s debt planning agency said on Tuesday.
Under the plan, the region’s biggest economy Ivory Coast will issue 1,192 billion CFA. Benin will issue 300 billion, Burkina Faso 420 billion, Guinea-Bissau 11 billion, Mali 336 billion, Niger 180 billion, Senegal 690 billion, and Togo 250 billion.
The bond includes 150 billion of Sukuk.
About 920 billion will be raised in the first quarter of the year, the UMOA-Titres agency said.
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