Cameroon records 244% subscription rate for the latest T-bills issuance with an average interest rate down to 2.4%

Finance

Cameroon records 244% subscription rate for the latest T-bills issuance with an average interest rate down to 2.4%

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- Thursday, 16 July 2020 17:02

(Business in Cameroon) - On 15 July 2020, Cameroon once again completed its 26-week Fungible Treasury Bills (T-bills) issuance operation on the government securities market of the Beac, the central bank of CEMAC countries.

According to the official release published by the central bank to announce the results of this operation, the operation was oversubscribed. Indeed, while it was only looking for CFAF25 billion, investors offered over CFAF61 billion, which represents 244% of the funds sought.

Thanks to this attraction exerted by Cameroonian securities on investors, the Treasury was able to negotiate the interest rate of this operation to acceptable proportions. According to the Beac, the weighted average interest rate for this operation was 2.4%, while some investors demanded up to 3.75%.

BRM

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