News
Mali’s treasury accepted CFA49.5 billion (about €75 million) at a regional auction of bills and bonds on Wednesday 11 November, CFA4.5 billion above its target, according to the financial news site BiFinances, which cites results published by UMOA-Titres, the public-debt agency of the eight-country West African monetary union. BiFinances
Most of the money, CFA38.5 billion, went to three-year bonds at an average yield of 7.59%, against 7.67% at the previous auction on 28 October. The yield is the return investors accepted given the price they paid; the bonds’ fixed coupon is 6%. Investors bid CFA65.36 billion, so the treasury turned away roughly a quarter of offers. Two weeks earlier it raised CFA44 billion from higher demand of CFA74.73 billion.
A move of eight basis points is small. The sale shows Mali can still borrow in its regional market at about 7.6% for three years; it does not show a change in its public finances. The official UMOA-Titres page confirms the instruments and maturities but showed no results when checked, so the amounts rest on BiFinances’ report. UMOA-Titres