Benin: the Treasury attracts 46.85 billion FCFA in bids for a target of 20 billion.

The Beninese state raised 22 billion FCFA, approximately 33.5 million euros, in Treasury bonds on the public securities market of the West African Monetary Union (UMOA) on Thursday, June 11, beyond the 20 billion initially put up for auction. Submissions reached 46.85 billion FCFA, resulting in a coverage rate of 234%, according to operational data reported by the APAnews agency.

The issuance involved two maturities with a unit nominal value of 1 million FCFA. For the 91-day bonds maturing on September 10, 2026, 10.08 billion FCFA were accepted at a marginal rate of 3.50% and an average weighted yield of 3.20%. For the 182-day bonds maturing on December 10, 2026, the Treasury retained 11.93 billion from the 33.77 billion proposed, at a marginal rate of 3.45% and an average yield of 3.39%, rejecting over 21.84 billion in bids.

The accepted subscribers mainly come from other countries in the monetary union. Senegal was the main external contributor, with 5 billion FCFA for each of the two maturities, totaling 10 billion. Benin had all its bids accepted for the 91-day securities, amounting to 5.07 billion, while Côte d’Ivoire secured 3.24 billion for the 182-day maturity.

The UMOA public securities market, facilitated by the UMOA-Titres agency, allows the eight member states of the union to raise resources in a common currency from banks and investors in the region. Benin is among the most active sovereign issuers in 2026. The awarded securities will take effect on June 12, 2026.