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Niger: The Treasury raises 22 billion FCFA on the UMOA financial market

15/01/2021
Source : financialafrik.com
Categories: Economy/Forex

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On 14 January 2020, the Directorate General of the Treasury and Public Accounting of Niger raised an amount of 22 billion FCFA (33 million euros) from the financial market of the West African Monetary Union (UMOA) following its issuance of treasury equivalent bonds (OAT) with a maturity of 36 months.
Out of an auctioned amount of 20 billion FCFA, the issuer ended up with global bids from investors of 89.989 billion FCFA, representing a coverage rate of the auctioned amount of 449.95%

.



At the end of the auction, the Nigerian public treasury only retained 22 billion FCFA and rejected the remaining 67.989 billion FCFA, representing an absorption rate of

24.45%.

The funds obtained are part of the strategy of the Government of Niger to ensure that the financing needs of its budget are covered.

The securities issued are redeemable on the first business day following the due date of January 15, 2024. On the other hand, interest at the fixed rate of 6.15% is payable annually at the end of the first year

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