Ivory Coast raises FCFA 33 billion on the UMOA financial market

The State of Côte d’Ivoire, through its public treasury, raised on November 9, 2020 on the financial market of the West African Monetary Union (UMOA) an amount of 33 billion FCFA (49.500 million euros ) at the end of its issue by auction of equivalent treasury bonds (BAT) with a maturity of 28 days.

The objective of this fundraising is to meet the financing needs of the state budget. During this month of November 2020, the intentions of issuing public securities expressed by the Ivorian authorities amount to 90 billion FCFA against 60 billion FCFA for the month of October.

At the close of the issue, the agency UMOA-Titres identified 60 billion FCFA of global bids made by investors for an amount put up for auction of 30 billion FCFA. The coverage rate for the amount put out to tender is thus 200%.

From the amount of the bids, the Ivorian public treasury withheld 33 billion FCFA and rejected the remaining 27 billion FCFA, ie an absorption rate of 55%. The weighted average rate was 1.98% and the marginal rate was 1.99%. The weighted average return was 1.98%.

The reimbursement of the vouchers issued will be made on the first working day following the due date of December 7, 2020. Interest is payable in advance and deducted from the nominal value of the vouchers which is one million FCFA.

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