(CLOSED) Bond loan by public offering of Port Autonome of Dakar (PAD)

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
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