The Malian Government has successfully completed a diversified financing operation on the regional financial market, raising 38.2 billion CFA francs through auction of treasury bills and bonds conducted on Wednesday by UMOA-Titres.
The operation involved three distinct financial instruments: 364-day Treasury Bills (BAT), 3-year Treasury Bonds (OAT), and 5-year OATs, for a total offer of 35 billion CFA francs.
Investor interest exceeded expectations, with 38.3 billion CFA francs in bids submitted, resulting in an overall coverage rate of 109.41%. In the end, 38.2 billion CFA francs were allocated, reflecting an impressive absorption rate of 99.74%.
The breaking down of the results showed that the 364-day BATs raised 16.6 billion CFA francs with a marginal rate of 8.85% and an average weighted yield of 9.40%.
The 3-year OATs attracted 13.8 billion CFA francs at a fixed rate of 6.35%, with a weighted average yield of 8.59%, while the 5-year OATs brought in 7.7 billion CFA francs at the same fixed rate of 6.35% but with a more attractive weighted average yield of 6.36%.
The auction drew a wide range of regional investors with 17 participants for the Treasury bills, 12 for the 3-year bonds, and 4 for the 5-year bonds.
Mali was the leading subscriber with 24.9 billion CFA francs in allocations, followed by Burkina Faso with 3.5 billion, Cote d’Ivoire with 2.6 billion, and Benin with 1.6 billion.
This diversified issuance, with maturities ranging from May 2026 to May 2030, allows the Malian Treasury to optimize its debt maturity profile, while catering to the various investment preferences within the regional market.
The funds raised will support Mali’s national budget and help finance economic and social development programmes across the country.
ARD/te/lb/gik/APA