Bonds and stimulus bonds: Côte d’Ivoire raises 65 billion FCFA on the financial market of the UMOA

The State of Côte d’Ivoire, through its Public Treasury, raised on June 15, 2021, an amount of 65 billion FCFA (97.500 million euros) at the end of its simultaneous issue of bonds and bonds. stimulus (ORD) of the Treasury with a maturity of 182 days and 3 years 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 153.555 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 236.24%.

From the total amount of the bids, the issuer withheld 65 billion FCFA and rejected the remaining 88.555 billion FCFA, ie an absorption rate of 42.33%.

The reimbursement of the capital of the 182-day BAT will take place on the first working day following the due date set on December 14, 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.

Regarding the repayment of bonds with a 3-year maturity, it will take place on the first working day following the maturity date set on June 16, 2024. Regarding interest, their payment will be made annually on the basis of an interest rate of 5.50 % from the end of the first year.

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