Togo raised CFA22 billion on the WAEMU Securities market last Friday

Finance
Monday, 30 November 2020 14:27
Togo raised CFA22 billion on the WAEMU Securities market last Friday

(Togo First) - Last Friday, Togo’s public treasury retained CFA22 billion through the issuance of two bonds maturing respectively over 5 and 7 years. 

Overall, subscriptions to the operations exceeded CFA59 billion, marking a surge in confidence of investors in the regional market. 

The funds retained - in line with the norm forcing issuers to collect at most 110% of the initial target - will, according to the treasury, be used to meet the 2020 budgetary needs. The latter were scaled up due to unexpected spending and fiscal shortcomings resulting from the Covid-19 crisis. 

Looking at the repeated oversubscriptions, Togo, and some other WAEMU states, is performing well in the public securities market.

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