On January 22, 2021, the State of Togo, through its public treasury, received 88 billion FCFA (132 million euros) following its simultaneous issuance of equivalent Treasury bonds (OAT) with a maturity of 3 years, 5 years and 7 years on the financial market of the West African Monetary Union (UMOA).

According to the UMOA-Titres Agency, the organizer of the operation in partnership with the Togolese public treasury, 201.966 billion FCFA in global tenders from investors were registered whereas the total amount put up for auction was only 80 billion FCFA. This gives a coverage rate of the amount auctioned by tenders of 252.46%.

Of the amount proposed by investors, the Togolese public treasury retained 88 billion FCFA and rejected the remaining 113.986 billion FCFA, i.e. an absorption rate of 43.57%.

The weighted average return was 6.10% for 3-year OATs, 6.38% for 5-year OATs, and 6.53% for 7-year OATs.

As for the weighted average price, it was 1001 for 3-year OATs, 1000 for 5-year-old OATs, and 9981 for 7-year-old OATs. As for the marginal price, it is 1000 at a time for OATs at 3 and 5 years, compared to 99.50 for those at 7 years.

Bonds will be repaid on the first business day following the due date of January 25, 2024 for 3-year OATs, January 25, 2026 for 5-year OATs, and January 25, 2028 for 7-year OATs.

Interest will be paid from the first year at an interest rate of 6.15% per year for 3-year bonds, 6.40% for 5-year bonds and 6.50% for 7-year bonds.