(TEYLIOM) – The Teyliom Group has appealed to the regional financial market to raise FCFA 20 billion by transferring real estate receivables to the FCTC TEYLIOM IMMO 7% 2021-2028. This operation, launched on May 20th for a one-month subscription period, was closed early on June 1st with an oversubscription level of 145%.
As a major player in the real estate sector in French-speaking West Africa, Groupe Teyliom aims to become an innovative and proactive investor of reference on the African continent.
In order to finance the development of real estate projects in the West African region, particularly in Côte d’Ivoire and Senegal, Groupe Teyliom has used securitization of receivables as an alternative and innovative source of financing.
The operation was structured by ALC Structuration, and carried out in the form of a public offering authorized by the Regional Council for Public Savings and Financial Markets (CREPMF), under the visa number FCTC/2021-01/CO-01-2021/NI-01-2021.
The placement was led by the consortium made up of BRIDGE SECURITIES, a subsidiary of the Finance Pole of Teyliom Group, and NSIA FINANCE, leader of a syndicate open to all the SGIs of WAEMU. The depositary of the FCTC is NSIA Banque Côte d’Ivoire. The FCTC TEYLIOM IMMO 7% 2021-2028 is managed by ALC Titrisation.
The bonds issued by the FCTC with a nominal value of FCFA 10,000 will give rise to a quarterly payment of interest and a repayment of capital by constant quarterly amortization after a one-year deferment.
Initially planned for a period of one month, the operation was remarkably successful and was crowned by an early closing after 10 days of marketing with a subscription level of 145% of the amount sought.
“We are delighted that such an operation launched by the Teyliom Group, for the first time on the market, has been so successfully subscribed. The funds raised through this operation will allow us to continue the momentum already observed in the real estate sector and to confirm our leadership in the sub-region as an African investor” underlined Mr. Yérim SOW, Chairman and CEO of the Teyliom Group.
“We are very satisfied with the success of this first operation on the regional financial market and thank all the investors for the confidence placed in our Group, and all the actors of the regional financial market who contributed to make this operation a success” said Jean-Charles BESSE, Chief Financial Officer of the Group Teyliom.
“We are proud to accompany Teyliom in its first fundraising on the WAEMU financial market. The success of the operation confirms that securitization is becoming a credible alternative to the existing range of financing offers in our region, due to its tailored approach. This instrument is more and more appreciated by investors who want to diversify their risk and the nature of the supports” added Serge Tidiane DIOP, Managing Director of Africa Link Capital Structuration, arranger of the operation.
This transaction is the first of the 2021 issuance program of Groupe Teyliom aiming at raising about CFAF 70 billion in the coming months within the framework of the financing of its vast Real Estate Program in the West African sub-region in order to consolidate its position as market leader.
The bonds will be listed on the BRVM in the coming months.
Founded in 2001, Teyliom is a group active in various sectors in West and Central Africa. The Group’s ambition is to be a reference investor on the African continent. By being innovative and proactive, it is committed to the economic future of Africa. The Group carries out its operational development from its Holding Teyliom International which controls all the vehicles by business line: Teyliom Properties, Teyliom Hospitality, Teyliom Finance, Teyliom Industries, Teyliom Telecom and Teyliom Energies.
As of December 31, 2020, the Group consists of 64 companies spread across Africa and Europe with a total workforce of nearly 1,300 employees.
About AFRICA LINK CAPITAL GROUP (ALC)
ALC Group has been operating since 2006 and is specialized in Investment Banking and Securitization (structuring and management of Debt Securitization Funds). As part of its diversification strategy based on innovation, the group holds a strong position in three activities, namely Investment Banking with ALC, origination and arrangement of securitization transactions with ALC Structuring, and management of FCTC with ALC Securitization. The ALC Group is composed of professionals with a combined