Senegal successfully raised 40.4 billion CFA francs in a targeted auction of Treasury Bonds and Notes (BAT and OAT) on the regional UMOA financial market on Friday, August 22, 2025, according to a report received by APA.
The public securities offering initially aimed to raise 40 billion CFA francs, distributed between a 364-day BAT and two OATs with tenors of three and five years.
Investor interest proved strong, with total bids amounting to 45.4 billion CFA francs, representing a coverage rate of 113.5%.
Ultimately, 40.415 billion CFA francs were retained, corresponding to an absorption rate of 89%. The 364-day BAT was fully subscribed for 10.764 billion CFA francs, while the three-year OAT raised 22.51 billion and the five-year OAT secured 7.14 billion.
The weighted average yields stood at 7.33% for the BAT, 7.73% for the three-year OAT, and 7.52% for the five-year OAT. Senegalese investors dominated the subscriptions, followed by participants from Burkina Faso and Togo.
Analysts say the results signal sustained confidence in Senegal’s creditworthiness, despite slightly higher yields compared to prior auctions.
The coverage rate above 100% indicates robust appetite from regional investors, while the rejection of around 5 billion CFA francs of bids on the three-year OAT demonstrates authorities’ intent to contain borrowing costs by declining offers deemed excessive.
This latest bond issue highlights Senegal’s continued integration into the regional financial market and its ability to attract both domestic and cross-border investor interest.
The strong participation reinforces the country’s fiscal credibility while providing essential resources for government financing.
Financial observers noted that such auctions also reflect broader market trends in West Africa, where regional investors increasingly seek high-quality sovereign instruments amid a dynamic economic environment.
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