In these lean times for states, all roads lead to the financial market of the West African Monetary Union (WAMU). It is in this sense that the General Directorate of the Treasury and Public Accounting of Togo raised on August 10, 2020 an amount of 27.500 billion FCFA (41.250 million euros) at the end of its issuance of 3- and 5-year Treasury bonds (OAT) organized in partnership with the UMOA-Titres agency based in Dakar.

These funds are intended to cover the financing needs of the Togolese State budget. The intentions to issue public securities expressed by the Togolese authorities for the month of August 2020 amount to CFAF 55 billion.

The amount put up for auction for the August 10 issue amounted to CFAF 25 billion. At the end of the operation, the UMOA-Titres agency recorded 36.589 billion FCFA of global bids from investors, i.e. a coverage rate of the amount put up for auction of 146.36%.

Of the amount proposed by investors, the Togolese treasury retained 27.5 trillion CFA francs (24.300 billion for 3-year OAT and 3.200 billion for 5-year OAT) and rejected the remaining 9.089 billion CFA francs, i.e. an absorption rate  of 75.16%.

The repayment of the 3-year OAT will be made on the first working day following the due date set at August 11, 2023 and the payment of interest at an interest rate of 6.15% per year from the first year.

For 5-year OAT, their repayment is also scheduled by the issuer on the first working day following the due date of August 11, 2025. On the other hand, the interest payment will be made annually on the basis of an interest rate of 6.40% per year from the first year.