ImpactAlpha, March 15 – Caisse Régionale de Refinancement Hypothécaire in Togo raised $274 million via a long-term bond issuance to invest in affordable housing throughout francophone West Africa. It aims to help 6,000 families become homeowners.
The offering included $217 million in 17-year, euro-denominated notes and $57 million in local-currency notes.
Bank of America, Brean Capital and Bank of New York Mellon participated in the offer. The U.S. International Development Finance Corp. provided a credit guarantee as an incentive to private investors.
“This project will not only support homeownership, which has the economic impact of wealth accumulation, but also positive health gains through improved quality of housing,” the agency said in an investment summary.
USAID provided funding to advisory firms MiDA Advisors and CrossBoundary to help CRRH ready the offering.