Guinea-Bissau has successfully raised 22 billion CFA francs on the West African Monetary Union public securities market following a Treasury bills and bonds auction held on Tuesday.
The government initially sought to mobilize 20 billion CFA francs, but strong investor demand pushed total bids to 91.65 billion CFA francs, representing a coverage rate of more than 458 percent of the amount offered.
The funds were mobilized through three financial instruments: 167-day Treasury bills, 364-day Treasury bills and three-year Treasury bonds, raising 6.62 billion CFA francs, 11.38 billion CFA francs and 4 billion CFA francs respectively.
The average weighted yields stood at 5.96 percent for the 167-day bills, 6.73 percent for the 364-day bills and 8.97 percent for the three-year bonds.
A total of 25 participants submitted 61 bids in the operation, with investors mainly coming from several member states of the union including Benin, Burkina Faso, Ivory Coast and Senegal.
