Niger has issued CFA15 billion worth of treasury bills, last Friday. These bonds have a three-month maturity period.
The objective of the operation is to tap into the savings of physical and legal persons to satisfy the funding needs of the Niger’s State budget.
The nominal value of each bond is FCFA1 million and it comes with a multiple interest rate. Maturity date is fixed on December 31, 2017.
According to the UMOA Titres agency, capital reimbursement will occur on the first working day after the date of maturity. As for the discount interests, they are payable in advance and are calculated based on the nominal value of the bonds.