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UEMOA: Senegal issues 82.5 billion CFA francs

17/03/2021
Categories: Economy/Forex

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Following a triple issue of assimilable Treasury bonds (Oat) with maturities of 3 years, 5 years and 7 years, respectively backed by interest rates of 5.60%, 5.70% and 5.80%, Senegal raises 82.5 billion CFA francs on the financial market of the Western Monetary Economic Union African (WAEMU).

Senegal has just secured additional financial resources to cover its budget deficit. To the tune of 82.5 billion, this fundraising brought together more than a dozen investors and bids reached some 145.54 billion FCFA, nearly 2 times the 75 billion initially requested by countries to fill the financial gap in certain sectors such as education, energy or local development.
The largest offers came from Senegalese investors, who offered 44.42 billion FCFA, followed by Togolese investors with 43.5 billion FCFA and those of Côte d'Ivoire for 23.61 billion FCFA. The marginal and weighted average prices of the Treasury's equivalent operations (Oat) at the end of the auction are established at 10,000 CFA francs and 10,011 CFA francs respectively.

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