(Ecofin Agency) - In a new fundraising operation yesterday Feb 25, Côte d’Ivoire mobilized CFA60.5 billion on the WAEMU securities market through the issue of 3-month and 6-month treasury bills (BATs). Initial amount sought was CFA55 billion.
At the end of this operation, the country received CFA93.6 billion (about $155 million) in bids from investors, representing a 170% coverage rate. This makes about CFA180 billion (about $298.5 million) already mobilized by Côte d'Ivoire on the market since the year started, after only three operations.
According to the schedule of public securities issues made available by the UMOA-Titres agency, Côte d'Ivoire plans to raise a total amount of CFA975 billion (about $1.6 billion) this year. In 2019, the country was the largest borrower on this market with CFA1,095 billion (about $ 1.8 billion) mobilized.