Central African Development Bank Sells First T-Bills
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The Development Bank of Central African States is selling its first treasury bills this month, with a plan to raise 30 billion CFA francs ($60.6 million) to fund projects in its six member nations.
The seven-year notes will be offered until Dec. 29 at an interest rate of 5.5 percent, said Basile Tchakounte, director of the finance department of the Economic and Monetary Union of Central Africa, in a statement handed to reporters in Yaounde, Cameroon’s capital, today.