The bond, which will be listed on the West African bourse, will be marketed to investors across the region's CFA currency zone from April 23 to May 22. It will be sold in units of 10,000 CFA, an official of SOGEBOURSE, the investment banking arm of bank SocGen said.
"The funds will be used to rebuild the Ivorian economy, notably infrastructure projects," the official said, requesting not to be named.
The West African nation, the world's top cocoa grower and economic locomotive of the region before a violent four-month post-election conflict in 2010 brought its economy to a standstill, has said it plans to raise about 600 billion CFA this year through a mix of treasury bills and bond issues.
According to an issue schedule seen by Reuters on Monday, the Ivorian government plans to raise 120 billion CFA francs through bond issues, 150 billion CFA through short-term treasury bills and 330 billion CFA through treasury bonds.
It said interest rates on the various short-term and medium-term issues will range from 6 to 6.67 percent.
The schedule showed that the Ivorian government will launch another 60-billion-CFA seven-year bond in July with a 6.5 percent coupon.
Ivory Coast defaulted on its $2.3 billion Eurobond during civil conflict that followed presidential elections in late 2010, but it is expected to resume paying coupons on the defaulted bond after the World Bank and IMF said the Ivorian government was on track to complete reforms which will unlock debt relief.
It is currently scheduled to pay the next coupon on the Eurobond June 30 and has pledged to make a good-faith payment on $87 million of arrears.
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