The Republic of Benin proceeded yesterday to fix the price of a new bond issue in euros on the international markets. This issue, coupled with a liability management operation, will allow the early repayment of 65% of the nominal amount of the Eurobond 2026 of Benin (324 million euros), as well as the financing of the 2021 budget and the flagship projects of the Program. Government Actions. From January 6 to 11, 2021, the official delegation led by the Minister of Economy and Finance of the Republic of Benin, Mr. Romuald Wadagni, held bilateral talks with several large international institutional investors. This roadshow was the opportunity for the Minister to remind investors of the results concrete actions of the Government’s Action Program in the context of Covid-19 crisis. On January 12, the Ministry of the Economy and Finance has successfully invested 1.0 billion euros (656 billion of CFA Francs) from international investors. Taking advantage of particularly favorable market conditions, Benin mobilized 700 million euros on a final maturity of 11 years, at a coupon of 4.875%, and 300 million euros on a final maturity of 31 years, with a coupon of 6.875%. With this 2052 maturity slice, the longest ever reached by the country, Benin joins the number limited by emerging issuers to have a Eurobond in euros of maturity greater than 30 years. This program is coupled with a technical liability management operation, part of the proactive public debt management strategy implemented by the Government. The success of the partial repurchase of the Eurobond 2026 allows the Benin to limit the risks of refinancing, to extend the maturity of its debt and reduce its average cost. Benin is the first issuer from Africa to seek the international market this year, demonstrating speed of execution. The operation’s order book reached a peak of almost 3 billion euros in the day (i.e. a subscription of 300%), of which 1.9 billion for the range at 11 years and 1.2 billion at 31 years. More than 125 investors have placed orders, many of which had not been on the show inaugural ceremony of Benin in March 2019. The Republic of Benin is therefore managed to diversify its sources of financing and extend the maturity average of its market debt while reducing the average cost supported. The success of this issue reflects the interest shown by international investors for the credit of Benin. The financial closing of the new issue should take place on the 19th January 2021 and that of the buyback operation should take place on the 20th January 2021. The Ministry of Economy and Finance