(Ecofin Agency) - As part of the active management of its debt, Côte d'Ivoire successfully carried out a securities exchange operation totaling XOF232 billion on the regional public securities market.
Led by the State Treasury of Côte d'Ivoire in close collaboration with the WAMU Securities Agency, this transaction involving securities maturing in 2019 and 2020 was split into two tranches in order to complete transactions of optimal size for the Regional Public Securities Market.
The first phase carried out on May 3, 2019, involved the exchange of four securities maturing in 2019 for two new 3-year and 5-year securities maturing in 2022 and 2024. The second phase carried out on 3 October 2019, involved the exchange of five securities maturing in 2020 for two new securities also with 3-year and 5-year maturities maturing in 2022 and 2024.
Côte d'Ivoire wanted through this share exchange operation to improve certain indicators of its debt stock and minimize the related costs. The operation was completed successfully with the support of the WAMU Securities Agency, which demonstrated its expertise and ability to effectively support the States of the WAEMU zone in structuring and conducting this type of innovative operations.
This dynamism of the WAMU Securities Agency, through the search for optimal solutions, both for issuers and investors, contributes significantly to the good performance recorded by member States in recent years on the Regional Public Securities Market.
This market is busy with the increased interest of investors, particularly with regard to the amount mobilized by Côte d'Ivoire. This indicator also reflects the very promising level of development of the Regional Public Securities Market, through these active debt management operations, which are very common in mature markets.