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UMOA financial market: Côte d'Ivoire issues 57 billion FCFA in treasury bills

19/04/2021
Source : ORISHAS FINANCE
Categories: Index/Markets

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On April 15, 2021, the General Directorate of the Treasury and Public Accounting of Côte d'Ivoire raised a sum of 57 billion FCFA on the financial market of the West African Monetary Union (UMOA).

After its issuance by auction of treasury equivalent bonds (BAT) with a maturity of 91 and 182 days, Côte d'Ivoire retained 57 billion FCFA. Out of a total amount auctioned of 60 billion FCFA, the Ivorian public treasury ended up with 111 billion FCFA in global tenders made by investors. This corresponds to a coverage rate of the amount auctioned of 185%. 54 billion FCFA were rejected, i.e. an absorption rate of 51.35%.
The weighted average return was 2.67% for 91-day BATs. Both the weighted average rate and the marginal rate are 2.65%. For 182-day BATs, their weighted average return was 2.64%, whereas the weighted average rate and the marginal rate are respectively 2.60% and 2.70%. Vouchers issued will be refunded on the first business day following the due date of July 15, 2021 for 91-day BATs and October 14, 2021. The interest is, for the two securities issued, payable in advance and precounted against the nominal value of the bonds, which is one million FCFA.
This fundraising is intended to ensure the coverage of the financing needs of the State budget of Côte d'Ivoire.

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