Bloomberg News

Chad to Sell $219 Million of 5-Year Bonds, Minister Says

June 21, 2011

(Adds analyst comment in third paragraph.)

June 21 (Bloomberg) -- Chad will offer 100 billion CFA francs ($219 million) of five-year local-currency bonds at an interest rate of 6 percent to fund investment projects and pay debts, said Finance Minister Gata Ngoulou.

The bills will be listed on the Libreville, Gabon-based Central African Stock Exchange, he said in a statement handed to reporters in Yaounde, the Cameroonian capital, today. The deadline for the offer is June 23.

“Although not particularly attractive for offshore accounts, we still suspect the issue will prove appealing to central African investors given the lack of listed securities in the Monetary and Economic Community of Central Africa,” Samir Gadio, a London-based emerging markets strategist with Standard Bank Group Ltd., said in an e-mailed note to clients.

--With assistance from Antony Sguazzin in Johannesburg. Editors: Emily Bowers, Antony Sguazzin

To contact the reporter on this story: Pius Lukong in Yaounde at plukong@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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