Home BUSINESS BENIN: The state has collected 27.5 billion CFA francs.

BENIN: The state has collected 27.5 billion CFA francs.

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27.5 billion CFA francs, or about $ 44 million, is the sum that Benin collected on Wednesday 30 August 2017 on the financial market of the West African Economic and Monetary Union (WAEMU) after its simultaneous issues of Treasury bonds (OAT). This information was collected Thursday from the agency UMOA-Titres based in Dakar in Senegal.

Initially, the stated objective was 25 billion CFA francs by the Treasury. For three-year Treasury Bonds (OATs), 2.404 billion FCFA were retained (out of 15.257 billion global bids) by the Beninese public treasury with a weighted average yield of 6.48%.

This rate of return corresponds to a coverage of the amount put out to tender of 166,31%.

On the other hand, for 5-year Treasury Bonds (OATs), CFAF 12.575 billion were retained on bids of CFAF 13.575 billion with a weighted average yield of 6.86%.

Finally, with regard to the 7-year Treasury Bonds (OATs), CFAF 12.572 billion were deducted from CFAF 12.746 billion of total bids. The weighted average return for this public security was estimated at 6.78%.

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