The Sonatel Group and IMPAXIS are pleased to announce the successful early closing of the public offering bond issue called "Sonatel Bonds 6.50% - 20202027" (the Transaction).  
The Transaction has been approved by the Autorité du marché financier régional (AMF UMOA) under visa number: EOP/20-01 for a subscription period to run from June 15 to July 15, 2020. It gives rise to the issuance of 10,000,000 dematerialized bonds at a unit price of 10,000 FCFA. This loan will be amortized over a maturity of 7 years at a gross interest rate of 6.50% per annum. 
The transaction, which is to date the largest bond issue by a private company in the region, was a great success with investors and was oversubscribed by more than 120%. The bonds were placed with investors in Senegal (39%), the WAEMU region outside Senegal (38%) and outside the WAEMU region (23%). 
The date of enjoyment is set for July 16, 2020. The listing of the securities must take place at the level of the BRVM in the following weeks as well as the filing of the application for eligibility for refinancing of the BCEAO.
The net proceeds of this issue will be used to finance the Sonatel Group's investment plan in Senegal for the 2020 financial year.  The investment program will be dedicated: 
(i) investments in infrastructure and service platforms to support the voice segment but also the extension of very high speed fixed and mobile networks, 
ii) ii) the acceleration of the main growth drivers as well as the launch of new businesses in Energy, Banking and multimedia content,  
iii) (iii) modernisation and extension of the network while strengthening Sonatel's pioneering role in terms of innovation and technology in the telecommunications sector.
Mr. Sékou DRAME, Chief Executive Officer of the Sonatel Group expressed the Group's satisfaction by indicating "to thank on behalf of Sonatel all the investors who have trusted the women and men of the group with this oversubscription despite the difficult global context related to the Covid-19 pandemic. The commitment is made to succeed together in our mission by achieving the objectives set and the fruition of these massive investments." 
Mr. Ababacar DIAW, Chief Executive Officer of SGI IMPAXIS, Arranger and Leader of the Operation said that "The IMPAXIS Group thanks Sonatel for the trust shown and the mobilization of its teams for a flawless execution of this major transaction. The diversity of investors (with commercial banks representing less than 20%) testifies to their perception of the financial strength of the Issuer and the coherence of its strategy. This transaction paves the way for the development of the regional financial market and the financing of the region's private sector."
Sonatel is a Group present in 5 countries (Senegal, Mali, Guinea, Guinea-Bissau and Sierra Leone) with a leading position and a strong CSR involvement in each of its markets. The company is the first capitalization of the BRVM, representing more than 30% of the stock market, with more than 27,000 shareholders.
 

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