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Niger: The Treasury raises 22 billion FCFA on the WAMU financial market

15/01/2021
Source : financialafrik.com
Categories: Economy/Forex

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The General Directorate of the Treasury and Public Accounting of Niger raised on January 14, 2020 at the level of the financial market of the West African Monetary Union (WAMU) an amount of 22 billion FCFA (33 million euros)  following  its issuance of maturit maturit's assimilable treasury bonds (OAT) e 36 months.
Out of an amount put up for auction of 20 billion FCFA, the issuer ended up with global bids from investors of 89.989 billion FCFA, i.e. a coverage rate of the amount put up for auction of 449.95%.


 
At the end of the auction operation, the Nigerien public treasury only withheld 22 billion CFA francs and rejected the remaining 67.989 billion CFA francs, i.e. an absorption rate of 24.45%.

The funds obtained are part of the Nigerien government's strategy to cover the financing needs of its budget.

The securities issued are redeemable on the first working day following the maturity date of 15 January 2024. On the other hand, interest at the fixed rate of 6.15% is payable annually from the end of the first year.

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