Telecom

Senegal: Sonatel seeks CFA100bln on WAEMU financial market

Monday, 15 June 2020 14:57
Senegal: Sonatel seeks CFA100bln on WAEMU financial market

(Ecofin Agency) - Senegal’s incumbent operator Sonatel issues today June 15 a bond worth CFA100 billion on the financial market of the West African Economic and Monetary Union (WAEMU). The resources will be used to finance the company’s investment plan for this year, including the extension and modernization of its network as well as its migration into a multiservice operator.

Sonatel wants to boost its data, voice, and mobile money services, strengthen its position on the local and regional markets, and introduce new businesses (energies, banking, and multimedia contents). The fundraising operation will be arranged and managed by the management and intermediation company Impaxis
The price of the bond was set at CFA10,000. The 7-year loan, of which 2 years of capital repayment was deferred, bears an interest rate of 6.50% per annum.

Sonatel's confidence in its ability to repay this loan once its investments have been made stems from the sound financial health of the telecom group over the past several years. Over the last three years, the group's turnover has been growing and stabilized at CFA1,087 billion at the end of the 2019 financial year. Barring exceptional events, the telecom group is certain that this growth will continue over the next seven years, while its financial debts and net debt, which amount to CFA439 billion and CFA86 billion respectively, are expected to fall.





 
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