In order to finance its budget, Benin obtained on Thursday, October 17, 2024 at the level of the UEMOA financial market the sum of 15.938 billion FCFA after its issuance of a simultaneous auction of 364-day treasury bills (BAT) and assimilable treasury bonds (OATs) of 3 and 5 years.

The issuer had requested 20 billion FCFA and was offered by investors bids of 24.688 billion FCFA. This corresponds to a coverage rate of 123.44% for the amount put up for auction.

The amount of successful tenders was 15.938 billion and that rejected was 8.750 billion FCFA. This gives an absorption rate of 64.56%

Investors whose bids were selected by the issuer will end up with a weighted average return of 6.85% for bonds, 6.81% for 3-year bonds, and 7.10% for 5-year bonds.

Vouchers are scheduled to be refunded on the first business day following the due date of October 16, 2025. As for the payment of interest, it will be made in advance and deducted from the nominal value of the vouchers

The repayment of the principal of the bonds will take place on the first business day following the maturity date set at October 18, 2027 for 3-year bonds and October 18, 2029 for 5-year bonds.