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Treasury bonds: Côte d'Ivoire raises 33 billion FCFA on the regional financial market

15/12/2020
Source : Financial Afrik
Categories: Index/Markets

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On December 11, 2020, the State of Côte d'Ivoire, through its General Directorate of Treasury and Public Accounting, raised 33 billion FCFA (49.500 million euros) on the financial market of the West African Monetary Union (UMOA) at the end of its issuance by auction of equivalent treasury bonds (BAT) with a maturity of 182 months.

These resources are intended to cover the financing needs of the State budget. For the month of December 2020, the intentions to issue public securities expressed by the Ivorian authorities amount to 88 billion FCFA compared to 90 billion FCFA for the month of

November.

At the end of the issue under review, the agency UMOA-Titres listed 115.900 billion FCFA in global bids made by investors where the issuer was only looking for 30 billion FCFA. This gives a coverage rate of 386.33% of the amount put up for auction

.

Of the amount of the tenders, the Ivorian public treasury retained 33 billion FCFA and rejected the remaining 82.900 billion FCFA, representing an absorption rate of 28.47%.

The weighted average rate and the marginal rate are 2.95% and 2.99% respectively. On the other hand, the weighted average return was 3.02%

.

The vouchers issued will be refunded on the first business day following the due date of June 13, 2021. Interest is payable in advance and deducted from the nominal value of the vouchers, which is one million FCFA

.
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