WAMU Securities: Togo secured CFA33 billion in latest issuance

Public finance
Tuesday, 14 May 2024 11:01
WAMU Securities: Togo secured CFA33 billion in latest issuance

(Togo First) - Togo raised CFA33 billion on the WAMU securities market last Friday. Lomé secured the funds through a simultaneous issue of Treasury Bonds (OATs) and Treasury Bills (BATs). The target was CFA30 billion.

In detail, Togo secured CFA17.7 billion through the BATs. These securities mature over 91 and 364 days, at varied interest rates. The remaining CFA15.3 billion was raised through the OATs with a 6.15% annual interest rate and a 3-year maturity.

The issuance was oversubscribed, reaching CFA54 billion, representing 181% coverage. The government will use the proceeds to meet its 2024 national budget financing needs totaling CFA2,179 billion.

Esaïe Edoh

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