Ivory Coast to issue 100 bln CFA franc bond in Aug: Treasury

Reuters
A man carries a cocoa bag while walking over cocoa beans left out to dry in Niable, at the border between Ivory Coast and Ghana, June 19, 2014. Picture taken June 19, 2014. REUTERS/Thierry Gouegnon

ABIDJAN (Reuters) - Ivory Coast will issue a 100 billion CFA franc ($205 million)five-year treasury bond with a 6 percent coupon on Aug. 4, the West African nation's treasury director Adama Kone said on Saturday in a statement. The bond will be sold in units of 10,000 CFA francs to investors across the regional currency zone via an auction organised by the Central Bank of West African States (BCEAO), the statement said. Ivory Coast is the world's biggest cocoa producer and French-speaking West Africa's largest economy. The country has issued several bonds this year to finance infrastructure projects as it rebuilds following a decade-long crisis that ended after a short civil war in 2011. Ivory Coast sold $750 million of 10-year Eurobonds in July after initially seeking $500 million. ($1 = 488.2800 Central African CFA Franc BEACs)