Burkina Faso: Burkina Government Raises $47m in Waemu Securities Market

20 January 2025
Daba Finance (Abidjan)
  • Burkina Faso raised 30 billion FCFA ($47 million) in its first issuance of the year in the WAEMU securities market
  • Initially targeting 30 billion FCFA, the country received total offers worth 43.36 billion FCFA, representing a coverage rate of 144.55%
  • The issuance was executed through a joint issue of Treasury Bonds and Similar Bonds (BAT/OAT)

Burkina Faso raised 30 billion FCFA ($47 million) in its first issuance of the year in the WAEMU securities market. Initially targeting 30 billion FCFA, the country received total offers worth 43.36 billion FCFA, representing a coverage rate of 144.55%. The final absorption rate was set at 76.1%. The issuance was executed through a joint issue of Treasury Bonds and Similar Bonds (BAT/OAT), comprising one BAT (maturity of 364 days) and three OATs with maturities of 3, 5, and 7 years.

The BAT raised 18.59 billion FCFA, with a marginal rate of 9.38% and a weighted average yield of 9.27%. The 3-year OAT secured 5.31 billion FCFA at a marginal price of 9,070 FCFA, with a weighted average yield of 9.48%. The 5-year and 7-year OATs raised 8 billion FCFA and 1.1 billion FCFA, respectively, at marginal prices of 9,041 and 9,500 FCFA, and weighted average yields of 7.53% and 7.34%.

Selected investors from six WAEMU member states participated in the offering, including Burkina Faso (18.48 billion FCFA), Benin (10.38 billion FCFA), Ivory Coast (4.74 billion FCFA), Senegal (2.63 billion FCFA), Togo (2.5 billion FCFA), and Mali (0.037 billion FCFA).

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Key Takeaways

Burkina Faso's successful bond issue demonstrates solid investor confidence in its fiscal instruments. By securing 30 billion FCFA at favorable yields, the country has reinforced its access to regional capital markets to support its development goals. The participation of six WAEMU countries underscores regional collaboration in economic growth and financial integration. With weighted yields under 10%, the offering reflects a stable outlook for Burkina Faso's public debt, supported by a broad regional investor base.

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