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Benin’s $59mn T-bill sale oversubscribed on West African yield hunt

Photo by Anne Nygård @ Unsplash treasury bill, stocks
Photo by Anne Nygård @ Unsplash
  • CFAF 33 billion raised in 91-day auction, more than double the offer in bids
  • Move comes as Benin leans on international financing to cut domestic debt

 

COTONOU, BENIN – Benin raised CFAF 33 billion ($59 million) in a short-term debt sale, attracting more than twice its target in bids, in a sign of strong investor appetite even as the country turns to external borrowing.

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