Regulatory Alerts2023-08-24
Instruction No. 47 of 2011 Modifying and Repealing Registration Conditions for Private Placement Bonds on the UMOA Regional Financial Market
The Regional Council for Public Savings and Financial Markets (CREPMF) issued Instruction No. 47 of 2011 to modify and repeal the registration conditions for private placement bond issues on the UMOA regional financial market. The regulation mandates that such bonds be issued without public offering to a maximum of 100 qualified investors, with a total cap of 10 billion FCFA and a par value starting at 50 million FCFA. It establishes mandatory pre-registration procedures, detailed documentation requirements for prospective investors, and a fee structure based on mobilized resources while clarifying that registration does not guarantee repayment or audit authentication.
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