1, July 2021
Biya regime issues EUR685 million eurobond with 5.95% coupon 0
Cameroon has issued a EUR685 million ($812.20 million) eurobond with 5.95% coupon, proceeds from which will help refinance a 2015 eurobond, the finance ministry said in a statement.
The bond, with an 11-year maturity, was oversubscribed, with an orderbook of EUR2.258 billion, it said.
($1 = 0.8434 euros)
Source: Reuters
2, July 2021
After Biya-Dangote Meeting: CPDM Crime Syndicate threatens CIMENCAM with closure over prices rises 0
Luc Magloire, the Minister of Commerce, has written to Cimenteries du Cameroun (CIMENCAM) threatening to close its production facilities if it raises its prices without approval. In the letter the minister accused the subsidiary of LafargeHolcim of increasing its wholesale prices and of preparing to do so again without consent, according to the Ecofin Agency. Prices have reportedly risen by up to 8% in some places.
Friction occurred between the government and CIMENCAM in 2020 when LafargeHolcim renewed the term of Benoît Galichet as the chief executive officer of its local subsidiary. The government, a large minority shareholder of the company, opposed the decision. The government and the cement producer have also disagreed previously over the price of cement.
Source: Global Cement News