WAEMU Securities : Lomé Raises CFA 36.9 Billion in Latest Operation

Public finance
Tuesday, 11 June 2024 16:14
WAEMU Securities : Lomé Raises CFA 36.9 Billion in Latest Operation

(Togo First) - Togo’s latest operation on the West African Monetary Union (UMOA) public securities market was successful. On June 7, 2024, the country raised CFA36.9 billion while seeking CFA35 billion.

In detail, Lomé secured CFA32.3 billion through fungible treasury bills (BATs or Bons Assimilables du Trésor) and the remaining CFA4.6 billion through fungible treasury bonds (OATs or Obligations Assimilables du Trésor). The former mature over 182 days and the latter over 3 and 5 years. The respective interest rates for the OATs are 6.15% and 6.40%.

A total of 28 investors participated in the offer, proposing a total amount of FCFA 45.7 billion, representing a coverage rate of 130.62%.

The recent operation including, Lomé secured CFA430 billion so far this year on the WAEMU market. Togo aims to raise CFA607 billion on the WAEMU market in 2024. 

The funds will help finance Togo’s 2024 budget, which stands at CFA2,179 billion–revenues and expenses.

Esaïe Edoh

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