Investors operating in the West African Economic and Monetary Union (WAEMU) financial market showed strong interest in Benin’s treasury bills and bonds during a simultaneous auction of these public securities with maturities of 182 days and 3, 5, and 7 years held on Thursday, June 19, 2025.
Seeking 25 billion CFA francs, the State of Benin, through its Public Treasury, received total bids from investors of 116.917 billion CFA francs, representing a significant coverage rate of 467.67% of the amount put up for auction.
Out of these bids, the issuer retained 27.5 billion CFA francs and rejected the remaining 89.417 billion CFA francs, resulting in an absorption rate of 23.52%.
The weighted average yield stands at 5.73% for treasury bills, 6.10% for 3-year bonds, 6.86% for 5-year bonds, and 7.16% for 7-year bonds.
Repayment of treasury bills will be made on the first working day following the maturity date set for December 18, 2025. Interest payments will be made in advance and deducted from the face value of the bills, which is one million CFA francs.
As for the repayment of the principal of the bonds, the Benin Public Treasury commits to do so on the first working day following the maturity date set for January 17, 2028 for 3-year bonds, March 21, 2030 for 5-year bonds, and March 21, 2032 for 7-year bonds.
Interest payments will be made annually at a rate of 5.70% for 3-year bonds, 5.90% for 5-year bonds, and 6.00% for 7-year bonds starting from the end of the first year.
