The State of Togo through its public treasury received on January 22, 2021 an amount of 88 billion FCFA (132 million euros) at the end of its simultaneous issuance of assimilable Treasury bonds (OAT) with a maturity of 3 years, 5 years and 7 years on the financial market of the West African Monetary Union (WAMU).

According to the UMOA-Titres Agency, organizer of the operation in partnership with the Togolese public treasury, 201.966 billion FCFA of global bids from investors were registered while the total amount put up for auction was only 80 billion FCFA. This gives a coverage rate of the amount put out to tender by the tenders of 252.46%. 

Of the amount proposed by investors, the Togolese treasury retained 88 billion CFA francs and rejected the remaining 113.986 billion CFA francs, i.e. an absorption rate of 43.57%.

The weighted average yield was 6.10% for 3-year OATs, 6.38% for 5-year ONES and 6.53% for 7-year ONES.

As for the weighted average price, it was 1001 for 3-year-old OATs, 1000 for 5-year-olds and 9981 for 7-year-olds. Regarding the marginal price it is at 1000 both for the OAT at 3 and 5 years against 9950 for those at 7 years. 

The bonds will be repaid on the first business day following the maturity date of January 25, 2024 for 3-year OATs, January 25, 2026 for 5-year OATs and January 25, 2028 for 7-year ONES. 

Interest payments will be made in the first year at an interest rate of 6.15% per annum for 3-year maturity bonds, 6.40% for 5-year maturity bonds and 6.50% for 7-year maturity bonds.