WAEMU: Togo raises CFA33 billion in latest operation

Public finance
Tuesday, 16 April 2024 12:06
WAEMU: Togo raises CFA33 billion in latest operation

(Togo First) - Togo raised CFA33 billion on the WAEMU market for its first issue in Q1 2024. Lomé raised CFA3 billion more than it targeted.

In detail, the country collected CFA27.5 billion on fungible treasury bills (BATs). These securities mature over 91 and 364 days and carry multiple interest rates. The remaining CFA5.5 billion was raised on fungible treasury bonds (OATs). They will mature over five years at an annual interest rate of 6.40%.

Additionally, the operation’s report notes that 37 investors subscribed to the simultaneous issue. They mobilized CFA46.5 billion, representing a 155.3% coverage rate for the operation.

Adding the latest operation, Togo has raised CFA227 billion on the regional financial market so far, this year. This is out of an annual target of CFA607 billion.

Esaïe Edoh

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