Issued by Nourmony jointly and severally with its Ivorian subsidiaries, CAM EQUIPEMENT, 100% BÉTON, SAM MOTORS and SOGECAR (the Subsidiaries), the bonds aim to raise FCFA 20 billion to fund its strategic projects.

Closed within 10 days on 17th February and oversubscribed by 112%, this landmark issuance will help finance the investment programs and working capital requirements of the Subsidiaries in Côte d’Ivoire and across the WAEMU region, as well as diversify the Group’s sources of financing.

This joint and several bond issuance is innovative in that it pools the Subsidiaries’ risks and costs of operating on the regional financial market. Moreover, the transaction benefits from the FSA Guarantee and with the creation of an escrow account providing a 100% security for subscribers’ capital.

Asafo & Co. played a pivotal role in the legal structuring of this transaction, including drafting the legal agreement for the issuance. Under the supervision of Jamal Fofana, Partner, the team, led by Benoit Diouf, Of Counsel with assistance from associate Emmanual Tiécoura, was instrumental in ensuring 100% capital coverage for investors, which further strengthened market confidence throughout the bond issuance process.