The Port of Dakar seeks to raise 20 million USD via a bond issue

2 December 2010

The autonomous Port of Dakar has launched a bond issue for nearly 20 million dollars, which was first listed Tuesday last.

100 percent guaranteed by the Banque Ouest Africaine de Développement, it is fixed at a rate of seven percent gross over seven years.

The Port is thus seeking to attract investors from the sub-region, to finance the dredging of the access channel to the Autonomous Port of Dakar, in order to accommodate larger ships.

It will also enable the renovation of the oil tanker wharf of Dakar, through which Senegal receives its supplies of hydrocarbons.

"The Port of Dakar has always been concerned about securing funding for its development and to demonstrate its ambition to be a Port which meets international standards, by using modern financing methods", declared the President of the Bourse régionale des valeurs Mobilières, or regional stock exchange, Jean Paul Gillet, quoted by the APA press agency.

Categories: Water, Transport, Energy

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