Senegal raises more than 79 billion on the financial market

Senegal Public Treasury

Through its General Directorate of Public Accounting and Treasury, Senegal raised on the West African Monetary Union (WAMU) financial market an amount of CFAF 79.8 billion, following its simultaneous issuance by auction of equivalent treasury bonds (OAT) with a maturity of 36 and 60 months, organized in partnership with the UMOA-Titres Agency based in Dakar.

Senegal raised, on the financial market of the West African Monetary Union (UMOA), an amount of CFAF 79.8 billion, at the end of its simultaneous issue by auction of Assimilable Treasury Bonds (OAT) of maturity 36 and 60 months, organized in partnership with the UMOA-Titres Agency based in Dakar.

Investors operating in this market responded to the solicitation of the Senegalese public treasury, which sought 75 billion FCFA, by proposing overall bids of 84.8 billion FCFA. This gives a coverage rate of the amount put out to tender of 113.07%. Out of the total amount of the bids, the Senegalese public treasury withheld 79.8 billion FCFA and rejected the remaining 5 billion FCFA.

This gives a very high absorption rate of 94.1%. The securities issued will be redeemed on the first working day following the maturity date set on January 18, 2024 for 3-year OATs and January 18, 2026 for 5-year OATs.

As for interest, it is payable annually on the basis of a fixed rate of 5.60% for 3-year OATs and 5.70% for 5-year OATs, from the end of the first year.

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