DAKAR, Jan 16 (Reuters) – Senegal raised 154 billion CFA francs ($254 million) in a regional debt auction on Friday, as investors sought higher yields across all maturities, data from regional debt agency UMOA-Titres showed.<\/p>\n
The West African nation, burdened by high debt levels, raised 71.46 billion CFA francs through a 12-month BAT treasury bill, against bids totalling 87.14 billion CFA francs.<\/p>\n
Sign up here.<\/a><\/p>\n The weighted average yield stood at 6.96%, while the marginal rate was 6.92%, reflecting increasing short-term borrowing costs.<\/p>\n Demand for longer-dated bonds was muted. A 36-month OAT treasury bond attracted 65.89 billion CFA francs in bids, with nearly the full amount accepted at a weighted average yield of 7.28%.<\/p>\n A 60-month OAT Treasury bond garnered 16.65 billion CFA francs in bids, which the treasury fully retained. The bond cleared at a weighted average yield of 7.69%, the highest among the three instruments.<\/p>\n Senegal has increasingly relied on the domestic and regional market for its financing needs after the International Monetary Fund (IMF) suspended its $1.8 billion three-year programme after the country’s current leadership uncovered billions of dollars in borrowing not reported by the previous administration.<\/p>\n The Fund has said Senegal’s debt burden hit 132% of gross domestic product at the end of 2024.<\/p>\n Writing by Bate Felix; Editing by Andrew Cawthorne<\/p>\n Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n