• Togo raises $53M via bonds and bills, surpassing 30B XOF target
• Auction saw 160.86% bid coverage; OATs issued at 6.25% for three years
• Total 2025 issuance hits 325B XOF, nearing 97% of annual goal

Togo raised 33 billion XOF ($53 million) on the WAEMU public securities market on Thursday through a simultaneous sale of Treasury Bonds (OAT) and Treasury Bills (BAT), slightly above its 30 billion XOF target.

Data from the regional issuance agency, Umoa-Titres,  showed that investors submitted 48.2 billion XOF in bids, giving a bid coverage ratio of 160.86%.

After the auction, the Treasury retained 30 billion XOF in three-year OATs at a fixed rate of 6.25%. The remaining 3 billion XOF was raised through 346-day BATs.

This was Togo’s second issuance on the regional market in the fourth quarter of 2025, during which the authorities aim to raise a total of 100 billion XOF.

With this latest sale, total issuance since the start of the year has reached 325 billion XOF, or 97% of the annual target of 332 billion XOF. Fourth-quarter issuance alone now stands at 60.5 billion XOF.

Esaïe Edoh