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Recovery vouchers and bonds: Côte d'Ivoire receives 66 billion FCFA

29/04/2021
Categories: Economy/Forex

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The Public Treasury of Côte d'Ivoire received on April 27, 2021, an amount of 66 billion FCFA in recovery bonds and bonds in the coffers of the Public Treasury. The operation was launched by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO).

Following its simultaneous issue of Treasury bills and recovery bonds (ORD) with a maturity of 91 days and 3 years, Côte d'Ivoire has just won 66 billion FCFA. The purpose of this issue is to enable the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of the Ivorian State budget within the framework of its economic recovery plans in order to contain the effects of the COVID-19 pandemic and return to pre-health crisis performance.

After the auction, the UMOA-Titres agency listed 157.200 billion FCFA in overall bids from investors, while the issuer had auctioned an amount of 60 billion FCFA. This gives a coverage rate of the amount auctioned of 262%. Of the total amount of bids, the issuer retained only 66 billion FCFA and rejected the remaining 91.200 billion FCFA, ie an absorption rate of 41.98%.

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