As part of the issue program of the States of the WAEMU zone for the year 2021, particular emphasis was placed on the objective of extending the debt raised on the Public Securities Market (MTP). Thus, Togo and Senegal pave the way for long maturities on the Public Securities Market in 2021.

The schedule published by UMOA-Titres for second quarter issues was characterized by the willingness of member states to issue on longer maturities, namely 10 and 12 years. After the first exits on the 10-year maturity made by Benin and Côte d'Ivoire in 2020, Togo (April 16, 2021) and Senegal (April 23, 2021) were the first issuers to appear on the MTP on this maturity in 2021.
The 10-year maturity was combined in a simultaneous issue with 5-year and 7-year maturities for Togo and a 5-year maturity for Senegal. At the end of the execution of the two emissions, the results obtained by its two States thwarted all the forecasts on the MTP. Strong investor participation was noted on the 10-year maturity, with record amounts offered of CFAF 86 billion for Togo and CFAF 127 billion for Senegal.