Senelec (Senegalese Electricity Company) has managed to solicit 30 billion FCFA from the market.
Demand has exceeded supply. The transaction, launched in February, mobilized CFAF 38.2 billion through an investment syndicate led by CGF Bourse and Impaxis Securities.
The interest rate applied is 6.5% to be assessed in relation to the investment grade rating granted to the agency by the Bloomfield agency.
By category of investors, the lion’s share goes to legal entities. Banks subscribed for 11 billion FCFA against 6.9 billion FCFA for insurance and 7.2 billion FCFA for non-financial corporations.
Households and individuals subscribed to around 10% of the total amount, which is twice the average of previous issues.
Senelec’s general manager, Matar Cissé, said that half of these resources will be used to “fund the quality of service”.
