Mali: State raises CFAF 30 billion in stimulus bonds on the UMOA financial market

The State of Mali, through the National Directorate of the Treasury and Public Accounts, raised on July 14, 2021 on the financial market of the West African Monetary Union (UMOA) an amount of 30 billion FCFA (45 million ‘euros) at the end of its issuance of 60-month treasury stimulus bonds (ODR).

ODR issues are initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO). They aim to allow the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of the Malian State budget as part of its economic recovery plans in order to contain the effects of the Covid-19 pandemic and return to performance before the health crisis. They target not only 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, 68.029 billion FCFA of global bids from investors were identified by the UMOA-Titles Agency on the amount put out to tender by the issuer of 30 billion FCFA. This gives a coverage rate of the amount put out to tender of 226.76%.

From the amount of the bids, the Malian Public Treasury retained 30 billion FCFA and rejected the remaining 38.029 billion FCFA, ie an absorption rate of 44.10%.

The repayment of the capital of the securities issued will take place on the first business day following the due date set on July 15, 2026.

As for the payment of interest, it will be made annually on the basis of an interest rate of 5.90%.

The weighted average yield is 5.58%. As for the weighted average price and the marginal price, they are respectively 1013 and 1010.

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