Bonds and stimulus bonds: Côte d’Ivoire raises CFAF 71.5 trillion on the UMOA financial market

The State of Côte d’Ivoire, through its e Public Treasury, raised on June 8, 2021, an amount of 66 billion FCFA (107.250 million euros) at the end of its simultaneous issue of bonds and 91-day, 5-year and 10-year Treasury stimulus bonds (ORD), organized in partnership with the UMOA-Titres Agency based in Dakar.

Launched by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO), the issuance of ODRs aims to allow the issuer to mobilize the savings of individuals and moral standards in order to ensure the financing needs of the Ivorian state budget are covered as part of its economic recovery plans in order to contain the effects of the COVID-19 pandemic and return to pre-crisis performance sanitary. It mainly targets socially responsible investors but also companies or individuals wishing to support the economic recovery actions initiated by the States of the UEMOA zone.

After auction, the UMOA-Titres agency listed 147.124 billion FCFA in global bids from investors out of an amount put out to tender by the issuer of 65 billion FCFA. This gives a coverage rate of the amount put out to tender of 226.34%.

From the total amount of the bids, the issuer withheld 71.500 billion FCFA and rejected the remaining 76.624 billion FCFA, ie an absorption rate of 48.60%.

The repayment of the capital of the 91-day BAT will take place on the first working day following the due date set on September 7, 2021. As for the payment of interest, it will be made in advance and deducted from the nominal value of the warrants which is one million FCFA.

Concerning the repayment of 5-year and 10-year bonds, it will take place on the first working day following the due date set respectively on June 9, 2026 and June 9, 2031. Concerning interest, their payment will be made annually on the basis of ” a respective interest rate of 5.60% for 5-year OATs and 5.85% for 10-year OATs, from the end of the first year.

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