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Housing: CRRH-UEMOA reimburses 1.638 billion FCFA of debts

17/11/2020
Source : financialafrik.com
Categories: General Information

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The Regional Mortgage Refinancing Fund of the West African Economic and Monetary Union (CRRH-UEMOA) is proceeding on November 17, 2020 with the payment of half-yearly interest and the partial repayment of the capital of its bond loan called CRRH-UEMOA 5.95% 2017- 2029 for an overall amount net of tax of 1.638 billion FCFA (2.458 million euros).
CRRH-UEMOA, a regular on the WAEMU financial market, carried out its seventh bond issue in 2017 for an amount of 25.126 billion FCFA. The maturity was 12 years covering the period 2017-2029.

The proceeds of the loan were intended for the refinancing of housing loans granted by the shareholder banks of CRRH-UEMOA to their clients.



The issuer has undertaken to pay subscribers an interest rate of 5.95% net of tax in all WAEMU countries and payable semi-annually. Regarding the repayment of the capital, it was to be done by constant and linear amortization over 12 years without deferred.

CRRH-UEMOA was created in July 2010 in Cotonou under the initiative of the Central Bank of West African States (BCEAO), the West African Development Bank (BOAD) and the Regional Council of savings and financial markets (CREPMF). Its objective is to refinance the housing loans of WAEMU banking establishments. Currently, its shareholders are made up of 55 commercial banks in this economic zone, BOAD, the ECOWAS Bank for Investment and Development (EBID), Shelter Afrique and IFC, a subsidiary of the World Bank group. for private sector financing.

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