The Togolese Treasury successfully raised a sum of 36.994 billion FCFA on the regional financial market on Thursday, July 27, 2023. This amount was obtained through a simultaneous issuance of Treasury Bills and Assimilable Treasury Bonds (T-Bills and T-Bonds) to investors from West Africa.
Togo concluded a new issuance on the regional financial market on Thursday. The Togolese Treasury had set an ambitious target of 35 billion FCFA for this issuance, but the results exceeded all expectations. The demand soared, with no less than 39 billion FCFA submitted by 36 investors, representing an impressive coverage rate of 111.41%.
To achieve this record result, Togo issued Treasury Bills (T-Bills) with a maturity of 182 days, raising 19 billion FCFA. These T-Bills offer investors a short-term solution to safely invest their money while benefiting from an attractive return.
At the same time, the country also issued Assimilable Treasury Bonds (T-Bonds) with maturities of 3 and 5 years, raising 17 billion FCFA. The T-Bonds provide investors with an opportunity to invest their money for the long term, while benefiting from competitive interest rates of 6% and 6.25%. This offering clearly piqued the interest of investors seeking higher returns and stability in the medium and long term.
These funds raised will be used to support Togo’s economic development and finance infrastructure projects, social initiatives, as well as other key sectors.
