The simultaneous issuance of government securities on the regional financial market has generated strong interest from investors with bids far exceeding the requested amount.
Côte d’Ivoire raised a total of 66 billion CFA francs on the financial market of the West African Monetary Union (UEMOA) on Tuesday, following a simultaneous issuance of Treasury Bills and Bonds (BAT and OAT).
This operation, which initially aimed to raise 60 billion FCFA, recorded total bids of 119.047 billion CFA francs, representing a coverage rate of 198.41 percent.
The issuance included four separate securities: 197-day and 350-day BATs, as well as 3-year and 5-year OATs. The 3- and 5-year OATs particularly attracted investors with absorption rates of 100 per cent.
For the 3-year bonds, with an interest rate of 5.7 per cent, the weighted average yield was 7.62 percent. The 5-year securities, offered with an terest rate of 5.9 percent, posted a weighted average yield of 7.52 percent.
Investors from three UEMOA countries participated in this operation: Côte d’Ivoire, Benin and Senegal. Abidjan was particularly active with significant bids on all the securities offered.
The funds raised will be used to cover the financing needs of the Ivorian Treasury. The value date of the securities is set at January 22, 2025, with maturities ranging from August 6, 2025 to January 22, 2030 depending on the maturities.
ARD/te/fss/gik/APA