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Treasury bills: Côte d'Ivoire raises 33 billion FCFA on the WAMU financial market

20/01/2021
Source : financialafrik.com
Categories: Economy/Forex

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The State of Côte d'Ivoire, through its General Directorate of Treasury and Public Accounting, raised on January 19,  2021 an amount of 33 billion FCFA (49,500 million euros)  on the financial market of the West African Monetary Union (WAMU) following its issuance by auction  assimilable treasury bonds (BAT) with a maturity of 182 days.


Out of a total amount put up for auction of 30 billion FCFA, the Ivorian public treasury ended up with 69.009 billion FCFA of global bids made by investors. This corresponds to a coverage rate of the amount put out to tender of 230.03%. On the amount of the bids, the issuer retained 33 billion CFA francs and rejected the remaining 36.009 billion CFA francs, i.e. an absorption rate of 47.82%. The resources selected are intended to cover the financing needs of the State budget of Côte d'Ivoire.

The weighted average return was 3.04%. As for the weighted average rate and the marginal rate  , they are both 2.99%. The redemption of the bonds issued will be made on the first business day following the due date of July 20, 2021. On the other hand, the interest is payable in advance and deducted from the nominal value of the vouchers which is one million FCFA.

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