According to a press release from the telecom company, the securities are available for purchase and over-the-counter on the secondary market through authorized intermediaries. The first fixing was made today at 9:45 am.

"As a reminder, this second bond issue of Sonatel has been authorized under the visa number: EOP/20-01 by the Regional Council of Public Savings and Financial Markets (CREPMF) for a sought amount of 100 billion FCFA.

It resulted in the issuance of 10,000,000 dematerialized bonds at a unit price of 10,000 FCFA over a maturity of 7 years at an annual gross interest rate of 6.50% and amortized semi-annually after two (02) years of deferral on the capital", adds the same source.

The transaction is to date the largest bond issue by a private company in the Umoa region and was a great success with investors through an oversubscription of 122% ( ) and thus an early closing on July 8, 2020.

The resources raised will be used to finance the Sonatel Group's investment plan in Senegal for the 2020 financial year.

Sékou Dramé, CEO of the Sonatel Group expressed the company's satisfaction by indicating "to ring with pride this bell which symbolizes the first listing of Sonatel Bonds bonds, and to thank the WAEMU authorities, the regulator Crepmf and the Brvm Dc/Br, as well as investors who continue to trust the Sonatel Group.

He says the commitment is renewed to help make these investments a success for policyholders."

For Edoh Kossi Amenounve, Ceo of Brvm and Dc-CBr, "this transaction has proven the resilience of Brvm as well as the depth of the regional financial market during these times of crisis.

The success of an operation of this magnitude is a strong signal to companies in the area, demonstrating that the regional financial market is a way to look at much more carefully in order to diversify their sources of long-term financing."

Ababacar Diaw, Managing Director of Sgi Impaxis, arranger and leader of the transaction said that "in addition to the liquidity offered to the holders of Sonatel Bonds, the listing offers an opportunity to investors who could not be used to acquire a security with an attractive risk-return combination.