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WAMU financial market: Burkina raises 76.229 billion FCFA in stimulus bonds

25/06/2021
Categories: Index/Markets

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At the end of its issue of Treasury recovery bonds (ORD) with maturities of 3, 5 and 7 years organized in partnership with the Agence UMOA-Titres based in Dakar, the State of Burkina Faso, through its General Directorate of treasury and public accounting raised on June 24, 2021 on the financial market of the West African Monetary Union (WAMU) an amount of 76.229 billion FCFA (114.344 million euros).

                  

At the end of the auction, the UMOA-Titres agency listed 160.032 billion FCFA where the issuer only requested 70 billion FCFA. This gives a coverage rate of the amount auctioned of 228.62%. Of the overall amount proposed by investors, the Burkinabe Public Treasury withheld 76.229 billion FCFA and rejected the remaining 83.802 billion FCFA, representing an absorption rate of 47.63%. The securities issued will be redeemed on the first business day following the maturity date set at June 24, 2024 for ODRs with a maturity of 3 years, June 24, 2026 for ODRs with a maturity of 5 years and June 24, 2028 for ODRs with a maturity of 7. years. As for the payment of interest, it will be made from the end of the first year at a fixed interest rate of 5.55% for 3-year ODRs, 5.80% for 5- and 6-year ODRs, 10% for 7-year ODRs.

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