The State of Togo, through its public treasury, collected on January 22, 2021 an amount of 88 billion FCFA (132 million euros) at the end of its simultaneous issue of equivalent Treasury bonds (OAT) of maturity 3 years, 5 years and 7 years in the financial market of the West African Monetary Union (UMOA).
According to Agence UMOA-Titres, organizer of the operation in partnership with the Togolese public treasury, 201.966 billion FCFA of global bids from investors were recorded while the total amount put up for auction was only 80 billion FCFA. This gives a coverage rate of the amount put out to tender by the bids of 252.46%.
Of the amount proposed by the investors, the Togolese public treasury withheld 88 billion FCFA and rejected the remaining 113.986 billion FCFA, ie an absorption rate of 43.57%.
The weighted average yield was 6.10% for 3-year OATs, 6.38% for 5-year OATs and 6.53% for 7-year OATs.
As for the weighted average price, it stood at 1001 for 3-year OATs, 1000 for 5-year OATs and 9981 for 7-year OATs. Regarding the marginal price, it is 1000 for both 3-year and 5-year OATs against 9,950 for 7-year OATs.
The bonds will be redeemed on the first working day following the maturity date set at January 25, 2024 for 3-year OATs, January 25, 2026 for 5-year OATs and January 25, 2028 for 7-year OATs.
Interest will be paid from the first year to a 6.15% interest rate per year for 3-year bonds, 6.40% for 5-year bonds and 6.50% for 7-year bonds.