ABIDJAN, Feb. 19 (Xinhua) -- Cote d'Ivoire raised 1.3 billion U.S. dollars through a bond issuance Wednesday on international markets, achieving an unprecedented rate in Sub-Saharan Africa over the past five years, according to the Ministry of Economy, Finance, and Budget.
In a statement posted on its Facebook page, the ministry said the bond, which has a 15-year maturity, generated a "historic appetite" from about 270 international investors, with subscriptions peaking at 6.3 billion dollars, nearly five times the offer.
The interest rate, set at 5.39 percent in euros after currency hedging, represents the lowest financing cost recorded for a Eurobond issuance by Cote d'Ivoire and sub-Saharan Africa over the past five years, the ministry said.
According to the statement, this issuance marks Cote d'Ivoire's entry into a "higher credit category," bringing the country closer to Investment Grade status, reserved for borrowers considered low-risk by rating agencies.
These developments reflect the continued improvement of the country's macroeconomic fundamentals, with real gross domestic product growth projected to rise from 6.5 percent in 2025 to 6.7 percent in 2026, the ministry said, adding that Cote d'Ivoire's public deficit fell from 4.0 percent in 2024 to 3.0 percent in 2025.
The funds raised will be exclusively allocated to finance the Ivorian government's 2026 budget, set at 17,350.2 billion CFA francs (about 31 billion dollars).
In March 2025, Cote d'Ivoire raised 1.75 billion dollars on international markets through a Eurobond issuance. ■