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Issue of support and resilience bonds: Niger collects 75 billion FCFA

24/09/2021
Categories: Economy/Forex

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The General Directorate of Treasury and Public Accounts of Niger has issued assimilable Treasury bonds (BAT) called "support and resilience bonds" with a maturity of 364 days. Organized in partnership with the Agence UMOA-Titres, this operation enabled the State to raise on September 23, 2021 an amount of 75 billion FCFA (112.500 million euros) on the financial market of the West African Monetary Union. (WAMU).

The operation launched by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO) targets all investors, both companies and individuals wishing to provide useful support to the States in the area. Thus, at the end of the issue, the agency listed 77 billion FCFA of overall bids from investors on an amount put up for auction by the issuer of 75 billion FCFA, i.e. a rate of coverage of the amount put up for auction. of 102.67%. Of the total amount of bids, the Nigerien Public Treasury withheld 75 billion FCFA and rejected the remaining 2 billion FCFA, ie an absorption rate of 97.40%. The issuer has undertaken to redeem the securities issued on the first business day following the maturity date set at September 22, 2022. However, interest is payable in advance and deducted from the nominal value of the warrants, which is one million FCFA. The weighted average return was 3.08%. For their part, the weighted average rate and the marginal rate stood at 2.98% and 3.50% respectively.

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