WAEMU-Securities: Togo to Seek CFA35 Billion This Week

Public finance
Monday, 08 July 2024 17:40
WAEMU-Securities: Togo to Seek CFA35 Billion This Week

(Togo First) - Togo will seek CFA35 billion on the WAEMU market on July 12. This will be the country’s first issue on the regional market this semester. Lomé will issue fungible treasury bills (BAT) and fungible treasury bonds (OAT).

In detail, Togo will seek CFA10 billion through the BATs and CFA25 billion through the OATs. The first securities have a nominal value of CFA1 million, stipulated with a maturity of 364 days and a multiple interest rate. The latter have a face value of CFA10,000, issued on maturities of 3 and 5 years, at interest rates of 6.15% and 6.40% respectively.

Proceeds will finance Togo's 2024 budget, which balances resources and expenses at CFA2,179 billion.

So far this year, Togo has raised CFA463 billion on the WAEMU market. That is around 76% of its annual target of CFA607 billion.

Esaïe Edoh

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