First Cape Verdean issue of “blue bonds” placed 3.17 ME

The first issue of “blue bonds” in Cabo Verde, made via a public offering on the stock exchange, yielded the maximum amount expected, of 3.17 million euros, with demand 1.5 times greater than the offer, it was announced yesterday.
“We had a demand even higher than the 350 thousand escudos [350 million escudos, 3.17 million euros, maximum ceiling],” explained Miguel Monteiro, president of the Cape Verde Stock Exchange, on the sidelines of the presentation of the results of this public offering issued by the International Investment Bank (iiB) of Cape Verde, which took place at the headquarters of the institution in Praia.
The operation took place from January 23rd to February 28th and foresaw to place from 250 million escudos to 350 million escudos (2.2 million to 3.17 million euros), with a maturity of five years and an interest rate of 4%.
Of the 96 valid orders received, 87 were from individuals and nine from companies or institutions. Of this total, 20 were from Cape Verdean emigrants, who acquired 70 million escudos (635 thousand euros) of these bonds from Portugal (six), the United States of America (five), Angola (four), France, Italy, Luxemburg, Switzerland and Uganda.
These iiB bonds, called Marine and Ocean Based Blue Bond series D, an operation that had the technical support of the United Nations Development Programme (UNDP), are intended to finance the development of projects in the area of the blue economy in Cape Verde and was the first public offering operation — open to all interested parties — held in the archipelago since 2014.

About Geraldine Boechat 2717 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia