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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 issuance of treasury equivalent bonds (OAT) with a maturity of 3 years, 5 years and 7 years, backed by interest rates of 5.60%, 5.70% and 5.80% respectively, Senegal raised 82.5 billion CFA francs on the financial market of the West African Monetary Union (UEMOA).

Senegal has just obtained additional financial resources to fill its budget deficit. At the level of 82.5 billion, this fundraising brought together more than a dozen investors and the bids reached some 145.54 billion FCFA, almost 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 from Côte d'Ivoire for 23.61 billion FCFA. The marginal and weighted average prices of equivalent operations of the Treasury (Oat) every 3 years at the end of the auction are set at 10,000 FCFA and 10,011 FCFA respectively

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