Burkina Faso raises 33 billion CFA francs in oversubscribed regional bond auction

In a sign of continued investor confidence, Burkina Faso has successfully raised nearly 33 billion CFA francs on the regional financial market of the West African Economic and Monetary Union (UEMOA), surpassing its initial target of 30 billion CFA francs.

The auction, conducted on Tuesday by UMOA-Titres, drew significant interest from investors across the region, achieving a coverage rate of 131.77%. A total of 39.529 billion CFA francs in bids were submitted, with 32.999 billion retained—representing an absorption rate of 83.48%.

The fundraising effort involved a combination of short- and long-term debt instruments, ranging from 364-day Treasury bills to Treasury bonds (OATs) with maturities of 3, 5, and 7 years.

The bulk of the funds—18.46 billion CFA francs—came from 364-day Treasury bills maturing in June 2026. These were issued at a marginal rate of 8.70%, with a weighted average yield of 9.26%.

The remaining 14.54 billion CFA francs was raised through longer-term Treasury bonds, all of which were fully subscribed. These included:

• 3.36 billion CFA francs at a 3-year maturity with a fixed rate of 6.00%,

• 3.76 billion CFA francs at 5 years at 6.20%, and

• 7.42 billion CFA francs at 7 years with a fixed rate of 6.40%.

Investor participation was strong across maturities, with 21 entities engaging in the short-term bond segment and between six and ten in the longer-term categories. Regional interest was particularly notable from Côte d’Ivoire (5.017 billion CFA francs), Senegal (7.181 billion CFA francs for short-term bonds), and Benin (199.5 million CFA francs).

This successful issuance comes at a critical time for Burkina Faso, which is actively seeking financing to support its budgetary and development needs amid ongoing security challenges.

The newly issued securities are scheduled to be listed on the secondary market beginning June 19, 2025.