The Government of Senegal successfully raised 66.08 billion CFA francs (114 million USD) through a 3-year Treasury Bond (OAT) offering, held on May 30, 2025, on the regional market of the West African Monetary Union (WAMU) via UMOA-Titres.
Transaction Details
- Amount Requested: 65 billion FCFA
- Amount Raised: 66.08 billion FCFA
- Coverage Rate: 130.42%, with total bids reaching 84.78 billion FCFA. Demand exceeded supply, reflecting investor confidence.
- Nominal Interest Rate: 6.30% per annum, paid annually
- Weighted Average Yield: 7.72%, in line with current market conditions. Maturity: 3 years, maturing on June 2, 2028
- Unit par value: 10,000 FCFA
- Weighted average price: 96.33%
- Marginal price: 96.30%
Geographic distribution of subscriptions
- Côte d’Ivoire: 63.5% of the amounts retained (41.96 billion FCFA)
- Senegal: 36.4% (24.09 billion FCFA)
- Bénin: 28.2 million FCFA
Other WAEMU countries did not participate in this issue.
Analysis and context
This operation is part of Senegal’s dynamic strategy to diversify its financing sources and meet its budgetary needs while preserving macroeconomic balance. The high coverage rate and strong regional participation demonstrate investor confidence in Senegal’s signature and its ability to mobilize regional savings at a controlled cost.
The bonds’ value date is set for June 2, 2025, allowing the Senegalese government to quickly access resources to finance its development projects. This issue confirms Senegal’s position as a major player in the regional government securities market, benefiting from strong demand and continued attractiveness among institutional investors.
