The General Directorate of Treasury and Public Accounting of Benin obtained 27.500 billion FCFA (41,250 million euros) on the financial market of the West African Monetary Union (UMOA) on May 22, 2020, on the financial market of the West African Monetary Union (UMOA), 27.500 billion FCFA (41,250 million euros) at the end of its simultaneous issuance of 5-year and 7-year treasury bonds (OATs). This amount raised is intended to ensure the coverage of the financing needs of the State budget of Benin.

The amount auctioned by the issuer amounts to 25 billion FCFA. At the end of the operation, it received global bids of 116.917 billion FCFA. This gives a coverage rate of 467.67% for the amount put up for auction.

The amount of successful bids was 27.500 billion and that rejected was 89.417 billion. This gives an absorption rate of 23.52%

Investors whose submissions were selected will end up with a weighted average return of 5.73% for good ones ,6.10% for 3-year bonds ,6.10% for 3-year bonds ,6.86% for 5-year bonds, 6.86% for 5-year bonds and 7.16% for 7-year bonds.

The repayment of the principal of the vouchers will take place on the first business day following the due date set at December 18, 2024. Interest is payable in advance and deducted from the nominal value of the vouchers

As for the repayment of the principal of the bonds, it is scheduled for the first working day following the due date fixed on January 17, 2028 for those with a term of 3 years, on March 21, 20230 for those of 5 years and on 21 March 2032 for those of 7 years.

Interest will be paid at the rate of 5.70% for 3-year titles, 5.90% for 5-year titles and 6% for 7-year titles.