The Board of Directors of the Sonatel Group has passed a resolution to use a bond issue of 100 billion CFA francs which is approved by the Regional Council for Public Savings and Financial Markets (CREPMF).

It is with the aim of diversifying sources of refinancing that the Board of Directors voted a resolution to use a bond issue by Public Offering (Ape) at its 2020 General Meeting, informs a press release from Sonatel. Which indicates in the wake that this is an initiative that is part of the financing of its 2020 investment plan in Senegal, the main market of the Sonatel group.

The bond issue of 100 billion FCFA, explains the document, was approved by the Regional Council of Public Savings and Financial Markets (Crepmf) for the issuance of 10,000,000 bonds at a unit price of 10,000 FCFA. This loan, it is added, will be amortized over a maturity of 7 years at a facial interest rate of 6.50% / year. The subscription period will be open from June 15 to July 15, 2020, also informs Sonatel.

Who says he has mandated the Management and Intermediation Company Impaxis Securities as arranger and lead agency responsible for the preparation and realization of this bond issue on the regional financial market of the West African Economic and Monetary Union.

Sonatel also announced that the investment program financed by this bond issue will be dedicated to investments in infrastructure to support the Voice segment, the acceleration of the main growth drivers as well as the launch of new businesses (Energy, Banking, multimedia content), to continue the modernization and extension of the Sonatel network while strengthening its pioneering role in terms of innovation and technology in the telecommunications sector.

It should be noted that the operation will take place in the current context with the Covid-19 pandemic that has been raging since the beginning of 2020, specifies the text before adding that the Sonatel group, as a regional player and main economic and social contributor in its various markets s, has taken measures to help the population and provide assistance to the state authorities, in line with its CSR policy.

The document also highlights that in the procedure for obtaining this visa, Sonatel, as an issuing company on the regional financial market (Mfr), has been awarded the best rating for a private company issuing within the WAEMU zone to date: Investment Grade. "The issuer is also the leading private company in terms of revenue in the region and has an exceptionally low credit risk in an economic context punctuated by uncertainties, a strong ability to service short- and long-term debt and a governance that respects the best international standards.