Benin Signs Up for Bond Issue Success
Benin Signs Up for Bond Issue Success
On Friday, the Beninese Treasury successfully raised $99 million on the West African Economic and Monetary Union regional market, surpassing its initial target of $90 million thanks to robust investor demand.
Subscriptions reached $163 million, representing an impressive oversubscription rate of 181.62%. The absorption rate was 60.57%, demonstrating a rigorous selection process for the best offers.
The placements were distributed across two maturities:
🟠$84 million was allocated to the 2-year bond, priced at a fixed rate of 5.70%,
🟠$15 million was raised on the 4-year bond, with a fixed rate of 5.90%.
Geographically, the majority of the selected bids came from:
Togo ($54 million),
Benin ($36 million),
Côte d’Ivoire ($9 million).
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