Friday , May 27 2022

The CREPMF explains the conditions for issuing a bond offering publicity on the regional financial market (Press release)


In a press release dated November 13, 2018, the Regional Council for Public Savings and Financial Markets (CREPMF) recalled the conditions for issuing a bond offering publicity on the regional financial market, following publication, through media notices , information related to the scale of the Senegal National Electricity Company (SENELEC), in the context of the issue of bonds by public offer – SENELEC 6.50% 2018 – 2025 on the financial market.

& # 39; & # 39; The CREPMF reminds all stakeholders that any entity that gives a public bond that offers a bond on the regional financial market must produce an adequate scale of the category & # 39; & # 39; investment rate in accordance with the regulations that are in force. . If not, he must give the beneficiary the first demand warranty. Both of the options offered to publishers, the grade and / or guarantee, must pay for the loan maturity, without a lack of continuity, "read the statement.

This explanation explains that CREPMF as the African taxation agency Bloomfield Investment published November 1, 2018 has expired the SENELEC scale. This information, which was publicized by the press, has raised fears among the beneficiaries. This is, especially since the offer of a bond does not offer a public offer – SENELEC 6.50% 2018 – 2025 on the financial market has matured yet.

Also Article 8 of Directive 36/2009 of the CREPMF that amend and cancel Directive 33/2006 compared to the public offer in WAEMU states & # 39; & # 39; Any publisher other than states and local or territorial public authorities, who make a public appeal for savings, must be identified by a rating agency duly approved by the Regional Council. When issuing debt securities, publishers commit to be identified throughout the securities life. In the absence of sufficient scale production capacity for the investment grade category determined by a rating agency, publishers must provide a first-time demand for subscribers. In the absence of a scale, the amount of the guarantee must include the main interest and safety of the security in question, and its length corresponds to security amortization. This guarantor must be released by the Regional Council and obtain a satisfactory guarantee, which is duly approved by an approved tax agency.

SENELEC responded the day after the announcement by Bloomfield from the end of the Senegal company's scale. & # 39; & # 39; SENELEC could not be read out the grading process & # 39; & In the press release generated by the company. Remembering this statement to several editors, she's still in the process of graduating but not with Bloomfield Investment. According to some shortcomings, SENELEC would now be in a contract with a Senegal rating agency.

Elisha B.

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