Benin caps uptake in record bond auction to curb debt costs

• June bond issue sees 467.7% subscription rate, but Treasury accepts only 23.5%
• Investors flock to 5- and 7-year maturities as yields edge higher across tenors

Cotonou, Benin – Benin’s Treasury attracted record demand at its June 19 auction on the Abidjan-based regional stock exchange, with bids oversubscribed by nearly 468%. But in a move to contain borrowing costs, authorities accepted just 23.5% of the offers—marking a more conservative strategy than in May.