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WAMU financial market: Côte d'Ivoire issues 57 billion CFA francs in treasury bills

19/04/2021
Source : ORISHAS FINANCE
Categories: Index/Markets

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On 15 April 2021, the General Directorate of the Treasury and Public Accounting of Côte d'Ivoire raised a sum of 57 billion CFA francs on the financial market of the West African Monetary Union (WAMU).

At the end of its issue by auction of assimilable treasury bonds (BAT) with maturities of 91 and 182 days, Côte d'Ivoire has retained 57 billion FCFA. Out of a total amount put up for auction of 60 billion CFA francs, the Ivorian public treasury ended up with 111 billion CFA francs in global bids made by investors. This corresponds to a coverage rate of the amount put out to tender of 185%. 54 billion CFA francs were rejected, i.e. an absorption rate of 51.35%.
The weighted average yield was 2.67% for 91-day TAOs. The weighted average rate and the marginal rate are both 2.65%. For the 182-day TAOs, their weighted average yield was 2.64% while the weighted average rate and the marginal rate are 2.60% and 2.70% respectively. The refund of the bonds issued will be made on the first business day following the due date of July 15, 2021 for the 91-day TAOs and October 14, 2021. Interest is, for the two securities issued, payable in advance and deducted from the nominal value of the vouchers which is one million FCFA.
This fundraising is intended to cover the financing needs of the State budget of Côte d'Ivoire.

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