The Véto Services Group (GVS SA) is issuing commercial paper in the amount of FCFA 2 billion representing the first tranche of its second commercial paper issuance program for a total amount of 4 billion CFA francs divided into two equal tranches. 

Since November 16 and until December 4, 2020, the subscription phase for this tranche of 2 billion FCFA or 400 securities with a nominal value of 5 million CFA francs, maturity 24 months with an interest rate of 7% gross per year, is taking place. Interest thereon will be paid quarterly and repayment will be made by constant quarterly depreciation. 

The first tranche of this program is authorized by the BCEAO under number B301031B2 BT 7.00% 10 2020-2022 and guaranteed 100% by the African Solidarity Fund (FSA). The resources to be mobilized from this first tranche will enable GVS to finance its activities in the Republic of Benin.

This transaction follows a first commercial paper issuance program of 03 billion, arranged by SGI Africabourse and having been a great success in 2019. These recourse to the financial market by GVS S.A. allows the company to diversify its sources of financing while optimizing its costs. Several times arranger, leader, co-leader or member of an investment syndicate, Africabourse provides comprehensive technical support to companies and States in the context of fundraising operations on the capital market, in particular by issuing commercial papers or bonds by private and public offerings and by introduction on the stock market.