Public Finances: 82.500 billion in the Senegalese public treasury

After the 79.800 billion FCFA (119.700 million euros) raised in the financial market of the West African Monetary Union (WAMU) on January 15, 2021, the State of Senegal, through the General Directorate of Accounting public and treasury, again obtained on February 5, 2021 an amount of 82.500 billion FCFA (123.750 million euros) at the end of its simultaneous issue by auction of similar bonds of the treasury (OAT) of maturity 36, 60 and 84 months, organized in partnership with the UMOA-Titres Agency based in Dakar.

The intentions of issuing government securities (mainly OATs) expressed by the Senegalese government authorities on the regional financial market for the first quarter of 2021 amount to CFAF 225 billion. As with previous issues, investors operating in this market responded favorably to the solicitation of the issuer, which had auctioned CFAF 75 billion. They thus made global bids of CFAF 145.539 billion, ie a coverage rate of the amount put out to tender of 194.05%.

Out of the total amount of the bids, the Senegalese public treasury retained 82.500 billion FCFA and rejected the 63.039 billion FCFA remaining. This gives a very high absorption rate of 56.69%. The securities issued will be redeemed on the first working day following the maturity date set on February 8, 2024 for 3-year OATs, on February 8, 2026 for 5-year OATs and on February 8, 2028. The Senegalese public treasury is committed to pay interest annually on the basis of a fixed rate of 5.60% for 3-year OATs, 5.70% for 5-year OATs and 5.80% for 7-year OATs, from the end of the first year.

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