The State of Côte d’Ivoire, through its General Directorate of the Treasury and Public Accounts, raised on May 18, 2021 an amount of 59.500 billion FCFA (89.250 million euros) on the financial market of the Union West African monetary (UMOA) at the end of its issuance by auction of assimilable treasury bonds (BAT) with maturity of 364 and 182 days.
This fundraising is intended to cover the financing needs of the budget of the State of Côte d’Ivoire. For the second quarter of 2021, intentions to issue public securities amount to 530 billion FCFA against 480 billion FCFA for the first quarter of 2021.
Out of a total amount put out to tender of 60 billion FCFA, the Ivorian public treasury ended up with 92.500 billion FCFA in global bids made by investors. This corresponds to a coverage rate of the amount put out to tender of 154.17%. From the amount of the bids, however, the issuer retained only 59.500 billion FCFA and rejected the remaining 33 billion FCFA, ie an absorption rate of 64.32%.
The weighted average yield was 4.25% for 364-day BATs. On the other hand, the weighted average rate and the marginal rate are respectively 4.07% and 4.13%. For 182-day BATs, their weighted average yield was 2.58%, where the weighted average rate and the marginal rate are respectively 2.55% and 2.60%.
Reimbursement of the vouchers issued will be made on the first working day following the expiry date of May 17, 2022 for 364-day proofs and November 16, 2021 for 182-day proofs. Interest is, for the two securities issued, payable in advance and deducted from the nominal value of the coupons, which is one million FCFA.