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Benin raises $59mn in oversubscribed bond auction

A bustling marketplace in Benin. Photo by Greg Keelen @ Unsplash
A bustling marketplace in Benin. Photo by Greg Keelen @ Unsplash

Virgile Ahissou

Virgile Ahissou is a highly experienced journalist writing on economic and political issues in Benin.
  • Benin’s 91-day Treasury bond raises 110% of target, totalling 33bn FCFA
  • Auction oversubscribed nearly threefold, with record low yields

 

COTONOU, BENIN – Benin has cemented its status as a leading sovereign issuer in West Africa’s financial markets after raising 33 billion CFA francs ($59 million) in an oversubscribed short-term bond auction.

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