WAEMU: Launch of the first bond issue exclusive to Primary dealers
Senegal is seeking to raise 150 billion CFA francs.Senegal issued on March 21st a bond worth 150 billion CFA francs (€228.6 million), in collaboration with the regional agency 'UMOA-Titres'.
This is the first time that a bond has been issued exclusively for Primary dealers in the WAEMU region.
These partners of the State of Senegal, which include Ecobank and BOA, have raised 214 billion CFA francs in government securities, with 165 billion CFA francs eventually selected.
Senegal's previous bond issuance dates back to January 26th, when it raised 45 billion CFA francs.
These operations are intended to finance investment projects included in the 2016 Finance Act and to reduce the budget deficit of Senegal.
Created in 2013 by the BCEAO, 'UMOA-Titres' is a regional agency that helps States in the region to issue public debt securities. It coordinates and structures bond issuance programs.