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Harvest Asset Management contributes CFAF 2 billion to the BDEAC bond issue

15/01/2021
Source : https://viewer.factiva.com/
Categories: Index/Markets

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The bond operation "BDEAC 5.45% NET 2020-2027" by Public Call for Savings (APE) for an amount of 100 billion FCFA, initiated by the Development Bank of Central African States (BDEAC), saw the unprecedented participation of a new category of investors, Asset Managers, a first in the CEMAC zone for this type of issue.

With 2,010,000,000 FCFA subscribed, or 1.9% of the total, asset managers made a remarkable entry by positioning themselves in fourth position in terms of contributions behind banks (82%), insurance companies (7.7%), natural persons (5.6%) and ahead of other legal entities (1.4%) and microfinance (0.9%). The BDEAC operation, which was set up by Societe Generale Capital Securities Central Africa, Upline Securities Central Africa (BCP Group) and Afriland Bourse et Investment, was a real success with a subscription rate of 106.8%.

The funds mobilized by the BDEAC will be used to finance the implementation of the priority integrative projects of the Regional Economic Program of the CEMAC zone in local currency. The presence of the number one asset manager Harvest Asset Management (70 billion FCFA of assets under management) reflects the company's desire to be permanently part of the sub-regional financial market and to participate actively, on behalf of its clients, to development projects in the CEMAC zone.

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