Côte d’Ivoire Raises $133 Million in Debt Sale as Investors Favour Credibility

• Treasury absorbs just 59% of bids to manage costs ahead of repayments
• Strong demand highlights confidence in Ivorian debt amid regional divergence

Abidjan, Côte d’Ivoire – Côte d’Ivoire raised CFAF 76.99 billion (about $133 million) in a Treasury auction on May 20, underlining its status as the most trusted sovereign issuer in the WAEMU regional debt market. The sale attracted bids worth CFAF 129.8 billion, equivalent to a 185% bid coverage ratio, though the Treasury accepted just 59% of offers in a bid to control borrowing costs.