Africa News Treasury bills: Niger obtains 22 billion FCFA in the...

Treasury bills: Niger obtains 22 billion FCFA in the UEMOA financial…

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The General Directorate of Treasury and Public Accounts of Niger obtained Thursday, July 4, 2019 on the financial market of the West African Economic and Monetary Union (UEMOA) an amount of 22 billion FCFA (33 million euros) to 364 days, the UMOA-Titres agency, headquartered in Dakar (Senegal), has announced that it will issue its 364-day treasury bills.

According to the report of the Agence UMOA-Titres, this program was a great success. Indeed, while he was requesting only 20 billion FCFA, Niger’s public treasury received global bids from investors amounting to 58.254 billion FCFA (1 FCFA equals 0.0015 euros). This gives a high coverage rate of the auctioned amount of 291.27%.

But, for reasons of cost, officials of the Nigerian treasury have retained 22 billion CFA francs and rejected the 36,254 billion CFA remaining, an absorption rate of 37.77%.

The weighted average rate was 5.84% and the marginal rate was 5.90%. The weighted average return was 6.21%.

Securities issued are redeemable on the first working day following the maturity date of July 2, 2020. Interest is payable in advance and pre-paid on the nominal value of the warrants, which is one million FCFA.

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