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Stimulus Bonds: Burkina Faso raises CFAF 66 billion on the WAMU financial market

03/05/2021
Categories: Index/Markets

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Through its General Directorate of Treasury and Public Accounting, the State of Burkina Faso, raised on April 28, 2021 on the financial market of the West African Monetary Union (WAMU) an amount of 66 billion FCFA (99 million euros).

At the end of its issue of 3 and 5 year Treasury stimulus bonds (ORD) organized in partnership with theAgence UMOA-Titres based in Dakar, Burkina Faso has listed 139.011 billion CFA francs, whereas it only requested 60 billion CFA francs. This gives a coverage rate of 231.69% of the amount put up for auction.
Of the total amount offered by investors, the Burkinabe Treasury retained CFAF 66 billion and rejected the remaining CFAF 73.011 billion, i.e. an absorption rate of 47.48%. The issued securities will be redeemed on the first working day following the maturity date fixed at April 29, 2024 for the ODR with a 3-year maturity. Interest payments will be made at the end of the first year at a fixed rate of 5.55%.
The 5-year ODRs will also be redeemed on the first business day following the maturity date of April 29, 2026. Interest will be paid from the end of the first year at a fixed rate of 5.80%.

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