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BENIN: Govt targets $750 million in bond sales this month

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Benin says it aims to raise around 750 million US dollars this month in its inaugural dollar-denominated bond sale.

Benin policymakers, led by Finance Minister Romuald Wadagni, are holding in person and virtual meetings with investors, with a road show trip to London and New York focused on the country’s first ever U.S. dollar issuance.

A state official said “The government told investors it aims to issue the bond as early as next week,” adding that the repaying note will have a 14-year final maturity.

Benin is part of the countries using the West African CFA Franc that is pegged to the euro, and has until now only issued international bonds denominated in the euro currency.

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BENIN: Govt targets $750 million in bond sales this month

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