BOAD Titrisation successfully closes its “FTC BOAD DOLI-P 6.10% 2023-2030” transaction, raising FCFA 150 billion

Lomé, May 2, 2023 – BOAD TITRISATION, arranger of the transaction, has successfully closed one of the largest securitization transactions launched in recent years on the UEMOA financial market, for a historic amount of 150 BILLION CFA FRANCS (XOF), marking genuine investor interest in this transaction, unprecedented in terms of its structuring and the amount sought, launched by a non-sovereign issuer.

The BOAD DOLI-P project focused on the securitization of BOAD receivables, with the aim of optimizing the bank’s balance sheet in order to increase its capacity to finance UEMOA economies, without having to resort to its balance sheet. The proceeds of the issue will be used by BOAD to finance the “Djoliba” 2021-2025 strategic plan.

In line with this, BOAD is committed to being “the Bank of reference for a sustainable impact on the integration and transformation of West Africa”.

To achieve this vision, the WADB has decided to increase its financing capacity through securitization, a technique to which it contributed in 2010, alongside BCEAO and AMF-UMOA, to the adoption of the related legal framework.

This transaction, carried out with the help of a consortium comprising NSIA Finance – SGI Togo – IMPAXIS Securities as co-lead managers of the underwriting syndicate, marks an important step in the development of the region’s financial markets, attests to BOAD Titrisation’s considerable expertise in this field, and bears witness to BOAD’s solidity as a benchmark for development financing in the region.

BOAD Titrisation, whose main shareholder is BOAD, enables the latter to mobilize large-scale resources to finance priority sectors in the region. This operation is the first in a series and heralds a new era of financing for BOAD on behalf of WAEMU member countries.

” The success of this operation is first and foremost that of the teams, to whom I offer my warmest congratulations. They have been hard at work for  several months structuring it and getting it approved by the WAMU Financial Markets Authority. It’s also a new stage in the dynamic we’ve been hoping and praying for, which is to find innovative financing mechanisms for our member states’ development projects. “

Mr Serge Ekué, President of BOAD, Chairman of the Board of Directors of BOAD Titrisation at the announcement of the closing of this operation

About BOAD TITRISATION

BOAD TITRISATION BOAD Titrisation was created in 2011 with the primary mission of driving the development of securitization in WAEMU countries. The entity is a limited company with a capital of 500 million CFA francs, of which BOAD is the main shareholder (99.99%). It is the first company to obtain AMF UMOA approval as a FCTC management company.

For further information