Senegal raised CFA 55 billion on the regional market on Friday 23 October, CFA 5 billion more than its target, in an auction dominated by the five-year bond. The weighted average yield on that maturity reached 8.24%, up from 7.82% at the 9 October sale of the same line.
Investors submitted CFA 69.373 billion of bids against an auction target of CFA 50 billion, producing a coverage ratio of 138.75%. The Treasury accepted CFA 55 billion, including CFA 36.021 billion of the five-year bond, CFA 18.505 billion of the 12-month bill and only CFA 474 million of the three-year bond.
The 12-month bill yielded 8.06%, 19 basis points more than on 9 October. The three-year bond yielded 8.01%. The settlement date for the securities is 26 October 2026.
Senegal’s previous auction on 9 October raised CFA 74.377 billion across three maturities against a CFA 80 billion target. Higher yields on the one-year and five-year securities increase the cost of raising these funds in the West African Monetary Union market.