FGI has the honor to bring to your attention the launch of the bond issue by Public Offering for Savings of the Port Autonomome of Dakar called “PAD 6.60% 2020-2027”. This loan aims to finance the construction of the Port of NDAYANE to allow the Port of Dakar to reposition itself in a competitive sub-regional environment. The Autonomous Port of Dakar is a benchmark issuer and enjoys a letter of comfort from the State of Senegal as well as an A rating with stable outlook from the WARA agency.
This operation will take place from October 1 to 31, 2020 with the possibility of early closing. Here are the main characteristics:
| Emetteur | Port Autonome de Dakar |
| Purpose of the loan | Financing of the Port of Ndayane |
| Denomination | PAD 6,60% 2020 – 2027 |
| Loan amount | 60 billions FCFA |
| Nominal Unit Value | 10 000 FCFA |
| Subscription fees | 10 000 FCFA |
| Annual profit rate | 6,60% Net |
| Duration | 7 years |
| Refund mode | Half-yearly constant with 2 years deferral for the capital |
| Liquidity of securities | The securities will be subject to admission to listing on the Regional Stock Exchange (BRVM) and an application for admission to the BCEAO refinancing counter. |
| Investors concerned | Anyone resident or not in the UEMOA area |
| Tax system | The securities are exempt from income tax on securities (IRVM) in Senegal. The applicable tax is that of the country of residence |
| Securing mechanism | Opening of a loan repayment bank account funded by port fees to cover 120% of the repayment of principal and interest |
| Allocation method | First come, first served |
| Subscription period | From 01 to 31 October 2020 with the possibility of early closing |
This is an investment opportunity that offers a return of 6.60% net of withholding tax. This operation has several advantages:
- an attractive yield of 6.60% Net
- a safe haven for your capital
- a regular and fixed income every 6 months
- an opportunity to diversify your portfolio