Côte d’Ivoire has completed a Treasury bond (OAT) auction exceeding CFA 60 billion, with investor demand significantly surpassing the initial target and concentrated mainly on short-term maturities.
The operation, organized by UMOA-Titres on behalf of the Ivorian state, was held on March 3, 2026.
The Treasury initially sought CFA 60 billion, including CFA 15 billion in non-competitive bids. By the close of the auction, the issuer accepted CFA 66 billion out of CFA 98.3 billion offered by investors.
The overall subscription rate reached 163.83 percent, reflecting strong market appetite, largely from domestic investors. The coverage rate for accepted bids stood at 110 percent, with an absorption rate of 67.14 percent.
The three-year tranche attracted the bulk of demand, with 22 bids from 10 participants totaling CFA 98.1 billion.
The weighted average yield settled at 7.00 percent, above the announced fixed rate of 5.35 percent, reflecting prevailing market conditions. The marginal price was 95.50 percent of face value.
The seven-year tranche recorded modest interest, with CFA 200 million subscribed and fully allotted. The weighted average yield reached 7.30 percent, at a price of 92.25 percent.
The intermediate five-year maturity received no subscriptions.
According to UMOA-Titres, subscriptions came almost exclusively from Côte d’Ivoire, with Burkina Faso contributing CFA 2 billion to the three-year tranche, fully accepted.
Other member states of the West African Economic and Monetary Union — including Benin, Guinea-Bissau, Mali, Niger, Senegal and Togo — did not participate in this issuance.
The value date for the securities is March 4, 2026, with a unit nominal value set at CFA 10,000.
The results highlight sustained investor confidence in Ivorian sovereign debt, particularly on shorter maturities amid current regional liquidity dynamics.
