Côte d’Ivoire has successfully raised 320.77 billion CFA francs through a Treasury bill and bond auction conducted on Tuesday on the West African regional financial market, surpassing its initial fundraising objective.
The auction, held on the UEMOA (WAEMU) market, attracted strong demand from investors across the sub-region. Total bids reached 515.80 billion CFA francs, translating into a coverage ratio of more than 166%, a sign of sustained investor confidence. However, the authorities adopted a selective approach, accepting just over 62% of the total amounts offered.
The issuance included three debt instruments with varying maturities.
Demand for the 364-day Treasury bills was relatively high, with bids totalling 127.24 billion CFA francs, but the government accepted only 4.5 billion CFA francs.
The marginal rate stood at 6.15%, while the weighted average yield reached 6.53%, reflecting the issuer’s reluctance to accept higher borrowing costs.
The bulk of the funds raised came from three-year bonds maturing in October 2028. Two bond tranches were issued, carrying fixed interest rates of 5.35% and 5.70%.
The first tranche recorded subscriptions of 158.94 billion CFA francs, representing an absorption rate of over 92%, while the second attracted 157.32 billion CFA francs, corresponding to an absorption rate of nearly 73%.
A total of 13 financial institutions participated in the auction, submitting 28 bids. Domestic investors accounted for the majority of the successful subscriptions, particularly in the bond segment. Interest also came from other members of the West African Economic and Monetary Union, including Benin, Togo, and Senegal.
With settlement scheduled for 7 January 2026, the funds raised will be used to refinance existing debt obligations and support development spending, as Côte d’Ivoire continues to manage public finances within a framework of budgetary discipline.
