Investors operating on the West African Monetary Union (UMOA) financial market have submitted a strong bid for the issuance of treasury equivalent bonds (BAT) with a maturity of 28 days called Covid-19 Social Bons with a coverage rate of the amount put up for auction of 563.33%, announced the UMOA-Titres Agency organizing the operation.

While the State of Côte d'Ivoire, through its public treasury, requested only 110 billion FCFA, the UMOA-Titres Agency recorded 619.660 billion FCFA in global tenders at the end of the auction operation. The largest amounts come from Côte d'Ivoire (209 billion), Burkina (105 billion) and Mali (105 billion).

But, for cost reasons, the issuer only retained the amount put up for auction and rejected the remaining 509.660 billion FCFA, representing an absorption rate of 17.75%. The largest amounts withheld come from Mali (45 billion), Côte d'Ivoire (28 billion) and Togo (27 billion).

The weighted average return was 2.07%. As for the weighted average rate, it was 2.06% compared to 2.14% for the marginal rate. This issuance of COVID-19 Vouchers allows the Ivorian authorities to mobilize the savings of natural and legal persons in order to cover the cash gaps created by the fight against the pandemic

The issuer has undertaken to repay the capital on the first business day following the due date of January 4, 2021. As for interest, it is payable in advance and precounted on the nominal value of the vouchers on the basis of a rate of less than or equal to 3%