Senegal raises 103 billion – Rewmi.com

Senegal raises 103 billion – Rewmi.com
Senegal raises 103 billion – Rewmi.com

Senegal raised 103 billion francs yesterday on the financial market. Our country thus participated in the third series of Social Covid-19 vouchers initiated by the Central Bank of West African States (BCEAO). The national authorities, through the Public Treasury, successfully obtained on October 27, 2020 on the financial market of the West African Monetary Union (WAMU), an amount of 103.13 billion FCFA (154.695 million euros) to the outcome of an issue by auction of assimilable treasury bonds (BAT) with a maturity of one month. The Senegal BAT issue was acclaimed by investors who offered 468.870 billion FCFA in global bids where the issuer was looking for 103.13 billion FCFA. This gives a coverage rate of the amount put out to tender of 260.71%. For cost reasons, the public treasury finally retained only the requested amount and rejected the remaining 165.740 billion FCFA, ie an absorption rate of 38.36%. The issuer intends to repay the capital on the first working day following the due date set on November 24, 2020. In its design, this BAT issue is designed as a bridge for the member states of the WAMU pending the return of funds expected as part of the fight against the COVID19 pandemic. The States’ cash flow plan to repay this debt is fed by the commitments of their technical financial partners. Concerning the payment of interest, it will be made in advance and deducted from the nominal value of the bonds which is one million FCFA with a rate less than or equal to 3%.


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