Cotonou successfully completed a first issue in dollars, reflecting its financial credibility and its growth dynamic. “It ’s a historic success,” said Romuald Wadagni, the Minister of Finance of Benin at the end of a five-day road show marathon in London and New York.
Cotonou, which was targeting 500 million dollars, received a peak demand of 5 billion and ultimately sold 750 million dollars over a maturity of fourteen years, at an average rate of 7.96%. A “very satisfactory ” rate, underlines the minister, which places Benin in third position in terms of African sovereign rate levels.