[Sovereign debt](<https://brvmdata.com/en/souverains/>)

# Togo: government debt

XOF 1.6tn outstanding as of 31 October 2026 (58 lines, 2 of them bills), 6.8% of the WAEMU total. Latest auction on 7 August 2026: XOF 22.0bn raised against XOF 20.0bn sought.

[Sovereign debt](<https://brvmdata.com/en/souverains/>) · [All auctions](<https://brvmdata.com/en/souverains/adjudications/>) · [Secondary market](<https://brvmdata.com/en/souverains/secondaire/>)
States [Benin](<https://brvmdata.com/en/souverains/benin/>) · [Burkina Faso](<https://brvmdata.com/en/souverains/burkina-faso/>) · [Côte d'Ivoire](<https://brvmdata.com/en/souverains/cote-divoire/>) · [Guinea-Bissau](<https://brvmdata.com/en/souverains/guinee-bissau/>) · [Mali](<https://brvmdata.com/en/souverains/mali/>) · [Niger](<https://brvmdata.com/en/souverains/niger/>) · [Senegal](<https://brvmdata.com/en/souverains/senegal/>) · Togo

 

## Outstanding and maturity profile

Key figures

|  |  |
| --- | --- |
| Outstanding | XOF 1.6tn |
| BAT | XOF 18.5bn |
| OAT | XOF 1.6tn |
| Number of lines | 58 |
| Average residual life (years, weighted) | 2.9 |
| Average bond coupon (%, weighted) | 6.14 |
| Maturing in the next 12 months | XOF 378bn |

[Chart: Amount maturing by year, as of 31 Oct 2026 (XOF bn)]

Amount maturing by year, as of 31 Oct 2026 (XOF bn)

Maturities by year and type (XOF bn)

| Year | BAT | OAT | Total (XOF bn) |
| --- | --- | --- | --- |
| 2027 | 18.5 | 359.6 | 378.1 |
| 2028 | — | 446.9 | 446.9 |
| 2029 | — | 262.0 | 262.0 |
| 2030 | — | 5.4 | 5.4 |
| 2031 | — | 334.4 | 334.4 |
| 2032 | — | 82.6 | 82.6 |
| 2033 | — | 24.4 | 24.4 |
| 2036 | — | 55.0 | 55.0 |
| 2037 | — | 41.0 | 41.0 |

[Chart: Month-end outstanding since Mar 2024 (XOF bn)]

Month-end outstanding since Mar 2024 (XOF bn)

[UMOA-Titres, live securities list as of 31 Oct 2026 (PDF)](<https://www.umoatitres.org/wp-content/uploads/2026/11/UT-LTV-31.10.2026.pdf>)

Outstanding from the list of live securities (LTV) UMOA-Titres publishes every month: Treasury bills (BAT, under one year) and Treasury bonds (OAT). Bonds listed on the BRVM are shown in the Listed bonds section.

1 amortising line(s) counted in full at final maturity.

 

## Yields at issue

[Chart: Primary curve: 12 months to 6 Nov 2026 (solid) and a year earlier (grey); x axis in years]

Primary curve: 12 months to 6 Nov 2026 (solid) and a year earlier (grey); x axis in years

Weighted average yield by tenor since Jan 2014, same scale (%)

3m 5.682025

[Chart: 3m]

6m 6.022025

[Chart: 6m]

12m 5.52

[Chart: 12m]

3y 6.14

[Chart: 3y]

5y 6.98

[Chart: 5y]

7y 7.44

[Chart: 7y]

10y 6.042022

[Chart: 10y]

Tenors grouped by remaining life at settlement: 3, 6 and 12 months, 3, 5, 7 and 10 years, within the bucket ranges. A reopening counts at its remaining life, not the original instrument tenor. Inconsistent dates: observation excluded.

Each point is an auctioned tranche; a line breaks where a tenor was not issued for over a year. A small year marks a tenor not issued since: the figure shown dates from that year.

 

## Auctions

195 auctions with results since January 2014; click a header to sort

51 auctions from 12 Jan 2024 to 7 Aug 2026; click a header to sort

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [7 Aug 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-07-08-2026/>) | 10 Aug 2026 | 2 OAT | 5y 6.98 | 20.0 | 100.0 | 22.0 | 500 | — | — | 6.98 | 60 |
| [24 Jul 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-24-07-2026/>) | 27 Jul 2026 | 2 OAT | 5y 7.09 | 20.0 | 72.6 | 22.0 | 363 | — | — | 7.09 | 58 |
| [10 Jul 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-10-06-2026/>) | 13 Jul 2026 | 3 OAT | 3y 6.14 · 5y 7.26 · 7y 7.44 | 25.0 | 46.7 | 26.5 | 187 | — | — | 6.62 | 48 |
| [26 Jun 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-26-06-2026/>) | 29 Jun 2026 | BAT + 2 OAT | 5y 7.23 | 30.0 | 84.9 | 33.0 | 283 | — | — | 7.23 | 58 |
| [12 Jun 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-12-06-2026/>) | 15 Jun 2026 | BAT + 3 OAT | 3y 6.40 · 5y 7.33 · 7y 7.49 | 35.0 | 89.4 | 38.5 | 255 | — | — | 7.24 | 51 |
| [29 May 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-29-05-2026/>) | 1 Jun 2026 | BAT + 2 OAT | 3y 6.56 · 5y 7.16 | 25.0 | 93.4 | 27.5 | 374 | — | — | 6.90 | 47 |
| [30 Apr 2026](<https://www.umoatitres.org/en/emission/emission-et-rachat-de-bons-et-dobligations-de-tresor-du-togo-du-30-04-2026/>) | 4 May 2026 | BAT + 2 OAT | 11m 5.52 · 3y 6.67 · 5y 7.14 | 63.5 | 63.5 | 63.5 | 100 | — | — | 6.44 | 28 |
| [17 Apr 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-de-guinee-bissau-du-13-04-2026/>) | 20 Apr 2026 | 3 OAT | 3y 6.15 · 5y 7.19 · 7y 7.25 | 30.0 | 91.8 | 33.0 | 306 | — | — | 6.90 | 54 |
| [3 Apr 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-03-04-2026/>) | 7 Apr 2026 | BAT + 3 OAT | 3y 6.16 · 5y 7.41 · 7y 7.31 | 30.0 | 120.7 | 33.0 | 402 | — | — | 6.64 | 78 |
| [20 Mar 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-burkina-du-11-03-2026-2/>) | 23 Mar 2026 | BAT + 2 OAT | 12m 5.44 · 3y 6.89 · 5y 7.35 | 25.0 | 134.6 | 27.5 | 538 | — | — | 6.84 | 80 |
| [6 Mar 2026](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-06-03-2026/>) | 9 Mar 2026 | BAT + 2 OAT | 3y 7.18 · 5y 7.36 | 20.0 | 176.2 | 22.0 | 881 | — | — | 7.24 | 103 |
| [13 Nov 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-13-11-2025/>) | 14 Nov 2025 | BAT + 2 OAT | 12m 5.96 · 3y 7.89 | 30.0 | 48.3 | 33.0 | 161 | — | — | 7.71 | 47 |
| [24 Oct 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-senegal-du-24-10-2025/>) | 27 Oct 2025 | BAT + 2 OAT | 12m 5.84 · 3y 7.83 | 25.0 | 53.3 | 27.5 | 213 | — | — | 7.24 | 54 |
| [11 Aug 2025](<https://www.umoatitres.org/en/emission/emission-du-togo-du-11-08-2025/>) | 12 Aug 2025 | BAT | 3m 5.68 | 30.0 | 60.1 | 33.0 | 200 | 5.79 | 5.68 | 5.68 | 18 |
| [5 Jun 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-05-06-2025/>) | 10 Jun 2025 | BAT | 6m 6.02 | 20.0 | 53.1 | 22.0 | 265 | 5.85 | 6.02 | 6.02 | 27 |
| [23 May 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-23-05-2025/>) | 26 May 2025 | BAT + OAT | 6m 6.29 · 3y 8.04 | 20.0 | 79.9 | 22.0 | 400 | — | — | 7.56 | 59 |
| [9 May 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-09-05-2025/>) | 12 May 2025 | 2 BAT | 6m 6.58 · 12m 7.29 | 20.0 | 60.3 | 22.0 | 302 | — | — | 7.06 | 41 |
| [25 Apr 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-25-04-2025/>) | 28 Apr 2025 | BAT + OAT | 12m 7.33 · 3y 8.10 | 20.0 | 37.0 | 22.0 | 185 | — | — | 7.70 | 42 |
| [11 Apr 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-11-04-2025/>) | 14 Apr 2025 | 2 BAT | 6m 6.68 · 12m 7.33 | 20.0 | 71.5 | 22.0 | 357 | — | — | 7.19 | 33 |
| [21 Mar 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-21-03-2025/>) | 24 Mar 2025 | 2 OAT | 3y 8.02 · 5y 7.80 | 15.0 | 17.9 | 7.9 | 119 | — | — | 8.00 | 18 |
| [14 Mar 2025](<https://www.umoatitres.org/en/emission/rachat-et-emission-simultanee-du-tresor-du-togo-du-14-03-2025/>) | 14 Mar 2025 | BAT + OAT | 12m 7.45 · 3y 8.12 | 22.4 | 22.4 | 22.4 | 100 | — | — | 7.82 | 14 |
| [3 Mar 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-03-03-2025/>) | 3 Mar 2025 | BAT + 2 OAT | 12m 7.03 · 12m 7.18 · 3y 8.13 | 25.0 | 25.8 | 25.8 | 103 | — | — | 7.82 | 4 |
| [27 Feb 2025](<https://www.umoatitres.org/en/emission/rachat-et-emission-simultanee-du-tresor-du-togo-du-27-02-2025/>) | 28 Feb 2025 | 2 OAT | 3y 7.53 · 5y 8.12 | 18.1 | 18.1 | 18.1 | 100 | — | — | 7.58 | 10 |
| [21 Feb 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-21-02-2025/>) | 24 Feb 2025 | BAT | 3m 6.75 | 15.0 | 39.3 | 16.5 | 262 | 6.78 | 6.75 | 6.75 | 25 |
| [7 Feb 2025](<https://www.umoatitres.org/en/emission/emission-du-tresor-du-togo-du-07-02-2025/>) | 10 Feb 2025 | BAT | 3m 6.68 | 25.0 | 32.4 | 27.5 | 130 | 6.87 | 6.68 | 6.68 | 31 |
| [31 Jan 2025](<https://www.umoatitres.org/en/emission/rachat-et-emission-du-tresor-du-togo-du-31-01-2025/>) | 31 Jan 2025 | BAT | 12m | 19.4 | 19.9 | 19.9 | 103 | — | — | — | — |
| [24 Jan 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-24-01-2025/>) | 27 Jan 2025 | BAT + OAT | 12m 7.38 · 3y 8.12 | 20.0 | 46.8 | 22.0 | 234 | — | — | 7.88 | 42 |
| [17 Jan 2025](<https://www.umoatitres.org/en/emission/rachate-et-emission-simultanee-du-tresor-du-togo-du-17-01-2025/>) | 20 Jan 2025 | BAT + OAT | 12m 7.52 · 3y 8.15 | 26.7 | 26.7 | 26.7 | 100 | — | — | 7.90 | 9 |
| [10 Jan 2025](<https://www.umoatitres.org/en/emission/emission-simultanee-du-tresor-du-togo-du-10-01-2025/>) | 13 Jan 2025 | BAT + OAT | 12m 7.54 · 3y 8.00 | 20.0 | 47.7 | 22.0 | 239 | — | — | 7.68 | 48 |
| [6 Dec 2024](<https://www.umoatitres.org/en/emission/emission-rachat-du-tresor-du-togo-du-06-12-2024/>) | 6 Dec 2024 | BAT + OAT | 6m 6.60 · 5y 7.06 | 12.1 | 11.6 | 11.6 | 96 | — | — | 6.89 | 10 |
| [30 Sep 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-du-tresor-du-togo-du-30-09-2024/>) | 1 Oct 2024 | 2 BAT + OAT | 6m 7.31 · 12m 7.48 · 3y 8.09 | 15.0 | 18.5 | 10.5 | 124 | — | — | 7.59 | 16 |
| [6 Sep 2024](<https://www.umoatitres.org/en/emission/emission-de-bons-assimilables-du-tresor-du-togo-du-06-09-2024/>) | 9 Sep 2024 | BAT | 3m 6.81 | 30.0 | 30.4 | 28.4 | 101 | 7.07 | 6.81 | 6.81 | 25 |
| [22 Aug 2024](<https://www.umoatitres.org/en/emission/emission-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-22-08-2024/>) | 26 Aug 2024 | BAT + 2 OAT | 6m 6.89 · 3y 7.58 · 5y 7.80 | 30.0 | 33.5 | 29.5 | 112 | — | — | 7.30 | 44 |
| [9 Aug 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-09-08-2024/>) | 12 Aug 2024 | 2 BAT + OAT | 6m 6.72 · 12m 7.75 · 5y 7.83 | 30.0 | 32.8 | 32.8 | 109 | — | — | 7.63 | 25 |
| [9 Aug 2024](<https://www.umoatitres.org/en/emission/rachat-et-emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-09-08-2024/>) | 12 Aug 2024 | OAT | 3m 8.07 | 6.2 | 6.2 | 6.2 | 100 | — | — | 8.07 | 1 |
| [26 Jul 2024](<https://www.umoatitres.org/en/emission/emission-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-26-07-2024/>) | 29 Jul 2024 | BAT + 2 OAT | 12m 7.48 · 3y 7.69 · 5y 7.80 | 30.0 | 32.3 | 32.1 | 108 | — | — | 7.58 | 42 |
| [12 Jul 2024](<https://www.umoatitres.org/en/emission/emission-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-12-07-2024/>) | 15 Jul 2024 | BAT + 2 OAT | 12m 7.72 · 3y 7.95 · 5y 7.84 | 35.0 | 39.5 | 30.3 | 113 | — | — | 7.81 | 45 |
| [24 Jun 2024](<https://www.umoatitres.org/en/emission/emission-de-bons-assimilables-du-tresor-du-togo-du-24-06-2024/>) | 25 Jun 2024 | BAT | 12m 7.65 | 6.1 | 6.1 | 6.1 | 100 | 7.10 | 7.65 | 7.65 | 2 |
| [24 Jun 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-24-06-2024/>) | 25 Jun 2024 | BAT + 2 OAT | 12m 7.66 · 3y 7.92 · 5y 7.84 | 30.0 | 32.1 | 32.1 | 107 | — | — | 7.71 | 55 |
| [7 Jun 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-07-06-2024/>) | 10 Jun 2024 | BAT + 2 OAT | 6m 6.78 · 5y 7.80 | 35.0 | 45.7 | 36.9 | 131 | — | — | 6.91 | 42 |
| [24 May 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-24-05-2024/>) | 27 May 2024 | BAT + 2 OAT | 6m 6.91 · 3y 7.87 · 5y 7.70 | 35.0 | 76.8 | 38.5 | 219 | — | — | 7.60 | 56 |
| [10 May 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-10-05-2024/>) | 13 May 2024 | 2 BAT + OAT | 3m 6.60 · 3y 7.94 | 30.0 | 54.4 | 33.0 | 181 | — | — | 7.22 | 45 |
| [26 Apr 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-26-04-2024/>) | 30 Apr 2024 | BAT + OAT | 12m 7.65 · 3y 7.91 | 30.0 | 48.1 | 32.9 | 160 | — | — | 7.74 | 36 |
| [12 Apr 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-12-04-2024/>) | 15 Apr 2024 | 2 BAT + OAT | 3m 6.60 · 12m 7.60 · 5y 7.80 | 30.0 | 46.6 | 33.0 | 155 | — | — | 7.48 | 77 |
| [15 Mar 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-15-03-2024/>) | 18 Mar 2024 | BAT + 2 OAT | 12m 7.63 · 3y 7.89 · 5y 7.47 | 35.0 | 35.6 | 34.3 | 102 | — | — | 7.66 | 27 |
| [15 Mar 2024](<https://www.umoatitres.org/en/emission/rachat-et-emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-15-03-2024/>) | 18 Mar 2024 | 3 BAT + OAT | 12m 7.52 · 12m 7.57 · 12m 7.59 · 3m 8.40 | 62.0 | 62.0 | 62.0 | 100 | — | — | 7.73 | 20 |
| [1 Mar 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-01-03-2024/>) | 4 Mar 2024 | 2 BAT + OAT | 6m 7.01 · 12m 7.42 · 3y 7.43 | 35.0 | 66.4 | 38.5 | 190 | — | — | 7.39 | 64 |
| [16 Feb 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-dobligations-assimilables-du-tresor-du-togo-du-16-02-2024/>) | 19 Feb 2024 | BAT + OAT | 3m 6.62 · 3y 7.56 | 25.0 | 89.6 | 27.5 | 359 | — | — | 6.83 | 70 |
| [2 Feb 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-02-02-2024/>) | 5 Feb 2024 | BAT + OAT | 12m 7.69 · 5y 7.70 | 30.0 | 31.9 | 30.5 | 106 | — | — | 7.69 | 41 |
| [22 Jan 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-22-01-2024/>) | 23 Jan 2024 | BAT + OAT | 3m 6.64 | 25.0 | 35.3 | 27.5 | 141 | — | — | 6.64 | 29 |
| [12 Jan 2024](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-assimilables-du-tresor-du-togo-du-12-01-2024/>) | 15 Jan 2024 | 2 BAT | 3m 6.64 · 12m 7.76 | 25.0 | 39.3 | 25.6 | 157 | — | — | 6.97 | 33 |

**Tranche detail (140)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 7 Aug 2026 | 1 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/07/Compte-Rendu-TG-ES-07.08.2026.pdf>) | 2.96 | 27 Jul 2029 | 6.15 | — | — | 24 | — | — | — | — |
| 7 Aug 2026 | 2 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/07/Compte-Rendu-TG-ES-07.08.2026.pdf>) | 4.96 | 27 Jul 2031 | 6.35 | 22.0 | 34 | 36 | — | — | 6.98 | 97.44 |
| 24 Jul 2026 | 1 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/06/Compte-Rendu-TG-ES-24.07.2026.pdf>) | 3.00 | 27 Jul 2029 | 6.15 | — | — | 24 | — | — | — | — |
| 24 Jul 2026 | 2 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/06/Compte-Rendu-TG-ES-24.07.2026.pdf>) | 5.00 | 27 Jul 2031 | 6.35 | 22.0 | 56 | 34 | — | — | 7.09 | 96.98 |
| 10 Jul 2026 | 1 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/06/Compte-Rendu-TG-ES-10.07.2026.pdf>) | 2.93 | 15 Jun 2029 | 6.15 | 15.6 | 44 | 30 | — | — | 6.14 | 100.01 |
| 10 Jul 2026 | 2 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/06/Compte-Rendu-TG-ES-10.07.2026.pdf>) | 4.74 | 7 Apr 2031 | 6.35 | 8.6 | 98 | 13 | — | — | 7.26 | 96.43 |
| 10 Jul 2026 | 3 | OAT | [7y](<https://www.umoatitres.org/wp-content/uploads/2026/06/Compte-Rendu-TG-ES-10.07.2026.pdf>) | 6.93 | 15 Jun 2033 | 6.50 | 2.3 | 100 | 5 | — | — | 7.44 | 95.05 |
| 26 Jun 2026 | 1 | BAT | [364d](<https://www.umoatitres.org/wp-content/uploads/2026/04/COmpte-Rendu-TG-ES-26.06.2026.pdf>) | 0.99 | 27 Jun 2027 | — | — | — | 13 | — | — | — | — |
| 26 Jun 2026 | 2 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/04/COmpte-Rendu-TG-ES-26.06.2026.pdf>) | 2.96 | 15 Jun 2029 | 6.15 | — | — | 31 | — | — | — | — |
| 26 Jun 2026 | 3 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/04/COmpte-Rendu-TG-ES-26.06.2026.pdf>) | 4.96 | 15 Jun 2031 | 6.35 | 33.0 | 81 | 14 | — | — | 7.23 | 0.96 |
| 12 Jun 2026 | 1 | BAT | [364d](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-12.06.2026.pdf>) | 0.99 | 13 Jun 2027 | — | — | — | — | — | — | — | — |
| 12 Jun 2026 | 2 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-12.06.2026.pdf>) | 3.00 | 15 Jun 2029 | 6.15 | 5.0 | 14 | 22 | — | — | 6.40 | 99.33 |
| 12 Jun 2026 | 3 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-12.06.2026.pdf>) | 5.00 | 15 Jun 2031 | 6.35 | 27.0 | 98 | 24 | — | — | 7.33 | 96.01 |
| 12 Jun 2026 | 4 | OAT | [7y](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-12.06.2026.pdf>) | 7.01 | 15 Jun 2033 | 6.50 | 6.5 | 100 | 5 | — | — | 7.49 | 94.74 |
| 29 May 2026 | 1 | BAT | [364d](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-29.05.2026.pdf>) | 0.99 | 30 May 2027 | — | — | — | — | — | — | — | — |
| 29 May 2026 | 2 | OAT | [3y](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-29.05.2026.pdf>) | 3.00 | 1 Jun 2029 | 6.15 | 11.7 | 23 | 32 | — | — | 6.56 | 98.91 |
| 29 May 2026 | 3 | OAT | [5y](<https://www.umoatitres.org/wp-content/uploads/2026/04/Compte-Rendu-TG-ES-29.05.2026.pdf>) | 5.00 | 1 Jun 2031 | 6.35 | 15.8 | 100 | 15 | — | — | 7.16 | 96.71 |
| 30 Apr 2026 | 1 | BAT | 11m | 0.92 | 5 Apr 2027 | — | 13.5 | 100 | 7 | 5.70 | 5.52 | 5.52 | — |
| 30 Apr 2026 | 2 | OAT | 3y | 2.93 | 7 Apr 2029 | 6.15 | 47.8 | 100 | 14 | — | — | 6.67 | 98.64 |
| 30 Apr 2026 | 3 | OAT | 5y | 4.93 | 7 Apr 2031 | 6.35 | 2.2 | 100 | 1 | — | — | 7.14 | 96.81 |
| 30 Apr 2026 | 4 | OAT buyback | — | 0.01 | 8 May 2026 | 6.00 | –5.5 | — | 3 | — | — | 2.53 | 100.04 |
| 30 Apr 2026 | 5 | BAT buyback | — | 0.02 | 10 May 2026 | — | –7.4 | — | 3 | 2.50 | 2.50 | 2.50 | — |
| 17 Apr 2026 | 1 | OAT | 3y | 2.97 | 7 Apr 2029 | 6.15 | 10.0 | 17 | 21 | — | — | 6.15 | 100.00 |
| 17 Apr 2026 | 2 | OAT | 5y | 4.97 | 7 Apr 2031 | 6.35 | 10.4 | 48 | 21 | — | — | 7.19 | 96.58 |
| 17 Apr 2026 | 3 | OAT | 7y | 6.97 | 7 Apr 2033 | 6.50 | 12.6 | 100 | 12 | — | — | 7.25 | 96.02 |
| 3 Apr 2026 | 1 | BAT | 12m | 0.99 | 5 Apr 2027 | — | — | — | 24 | — | — | — | — |
| 3 Apr 2026 | 2 | OAT | 3y | 3.00 | 7 Apr 2029 | 6.15 | 20.0 | 29 | 30 | — | — | 6.16 | 99.98 |
| 3 Apr 2026 | 3 | OAT | 5y | 5.00 | 7 Apr 2031 | 6.35 | 10.0 | 91 | 16 | — | — | 7.41 | 95.72 |
| 3 Apr 2026 | 4 | OAT | 7y | 7.01 | 7 Apr 2033 | 6.50 | 3.0 | 87 | 8 | — | — | 7.31 | 95.66 |
| 20 Mar 2026 | 1 | BAT | 12m | 0.99 | 21 Mar 2027 | — | 5.0 | 10 | 26 | 5.20 | 5.16 | 5.44 | — |
| 20 Mar 2026 | 2 | OAT | 3y | 3.00 | 23 Mar 2029 | 6.15 | 9.5 | 13 | 36 | — | — | 6.89 | 98.05 |
| 20 Mar 2026 | 3 | OAT | 5y | 5.00 | 23 Mar 2031 | 6.35 | 13.0 | 100 | 18 | — | — | 7.35 | 95.94 |
| 6 Mar 2026 | 1 | BAT | 12m | 0.99 | 7 Mar 2027 | — | — | — | 40 | — | — | — | — |
| 6 Mar 2026 | 2 | OAT | 3y | 3.00 | 9 Mar 2029 | 6.15 | 14.7 | 20 | 51 | — | — | 7.18 | 97.30 |
| 6 Mar 2026 | 3 | OAT | 5y | 5.00 | 9 Mar 2031 | 6.35 | 7.3 | 61 | 12 | — | — | 7.36 | 95.92 |
| 13 Nov 2025 | 1 | BAT | 12m | 0.95 | 25 Oct 2026 | — | 3.0 | 20 | 20 | 5.64 | 5.64 | 5.96 | — |
| 13 Nov 2025 | 2 | OAT | 3y | 2.95 | 27 Oct 2028 | 6.25 | 30.0 | 93 | 27 | — | — | 7.89 | 95.83 |
| 13 Nov 2025 | 3 | OAT | 5y | 4.95 | 27 Oct 2030 | 6.50 | — | — | — | — | — | — | — |
| 24 Oct 2025 | 1 | BAT | 12m | 0.99 | 25 Oct 2026 | — | 8.1 | 25 | 26 | 5.75 | 5.52 | 5.84 | — |
| 24 Oct 2025 | 2 | OAT | 3y | 3.00 | 27 Oct 2028 | 6.25 | 19.4 | 92 | 27 | — | — | 7.83 | 95.93 |
| 24 Oct 2025 | 3 | OAT | 5y | 5.00 | 27 Oct 2030 | 6.50 | — | — | 1 | — | — | — | — |
| 11 Aug 2025 | 1 | BAT | 3m | 0.25 | 10 Nov 2025 | — | 33.0 | 55 | 18 | 5.79 | 5.60 | 5.68 | — |
| 5 Jun 2025 | 1 | BAT | 6m | 0.50 | 8 Dec 2025 | — | 22.0 | 41 | 27 | 5.85 | 5.85 | 6.02 | — |
| 23 May 2025 | 1 | BAT | 6m | 0.50 | 23 Nov 2025 | — | 6.0 | 10 | 35 | 6.10 | 6.10 | 6.29 | — |
| 23 May 2025 | 2 | OAT | 3y | 2.83 | 24 Mar 2028 | 6.25 | 16.0 | 96 | 24 | — | — | 8.04 | 95.60 |
| 9 May 2025 | 1 | BAT | 6m | 0.50 | 9 Nov 2025 | — | 7.0 | 23 | 15 | 6.40 | 6.37 | 6.58 | — |
| 9 May 2025 | 2 | BAT | 12m | 0.99 | 10 May 2026 | — | 15.0 | 51 | 26 | 6.85 | 6.79 | 7.29 | — |
| 25 Apr 2025 | 1 | BAT | 12m | 0.96 | 12 Apr 2026 | — | 11.5 | 45 | 23 | 6.90 | 6.84 | 7.33 | — |
| 25 Apr 2025 | 2 | OAT | 3y | 2.91 | 24 Mar 2028 | 6.25 | 10.5 | 93 | 19 | — | — | 8.10 | 95.36 |
| 11 Apr 2025 | 1 | BAT | 6m | 0.50 | 12 Oct 2025 | — | 4.8 | 9 | 20 | 6.50 | 6.47 | 6.68 | — |
| 11 Apr 2025 | 2 | BAT | 12m | 0.99 | 12 Apr 2026 | — | 17.2 | 100 | 13 | 7.00 | 6.83 | 7.33 | — |
| 21 Mar 2025 | 1 | OAT | 3y | 3.00 | 24 Mar 2028 | 6.25 | 7.0 | 47 | 12 | — | — | 8.02 | 95.45 |
| 21 Mar 2025 | 2 | OAT | 5y | 5.00 | 24 Mar 2030 | 6.50 | 0.9 | 30 | 6 | — | — | 7.80 | 94.79 |
| 14 Mar 2025 | 1 | BAT | 12m | 0.87 | 25 Jan 2026 | — | 10.1 | 100 | 4 | 7.05 | 6.99 | 7.45 | — |
| 14 Mar 2025 | 2 | OAT | 3y | 2.84 | 13 Jan 2028 | 6.25 | 12.3 | 100 | 4 | — | — | 8.12 | 95.40 |
| 14 Mar 2025 | 3 | OAT buyback | 8m | 0.62 | 26 Oct 2025 | 6.40 | –0.5 | — | 1 | — | — | 3.50 | 101.72 |
| 14 Mar 2025 | 4 | BAT buyback | — | 0.01 | 16 Mar 2025 | — | –7.0 | — | 3 | 2.50 | 2.64 | 2.64 | — |
| 14 Mar 2025 | 5 | BAT buyback | 3m | 0.28 | 23 Jun 2025 | — | –3.0 | — | 1 | 3.00 | 3.00 | 3.03 | — |
| 14 Mar 2025 | 6 | BAT buyback | — | 0.05 | 31 Mar 2025 | — | –0.5 | — | 1 | 2.60 | 2.60 | 2.60 | — |
| 3 Mar 2025 | 1 | BAT | 12m | 0.58 | 29 Sep 2025 | — | 3.0 | 100 | 1 | 6.75 | 6.75 | 7.03 | — |
| 3 Mar 2025 | 2 | OAT | 12m | 0.99 | 27 Feb 2026 | 5.50 | 5.0 | 100 | 1 | — | — | 7.18 | 98.44 |
| 3 Mar 2025 | 3 | OAT | 3y | 2.99 | 27 Feb 2028 | 5.70 | 17.8 | 100 | 2 | — | — | 8.13 | 93.76 |
| 27 Feb 2025 | 1 | OAT | 3y | 1.00 | 27 Feb 2026 | 5.50 | 16.5 | 100 | 5 | — | — | 7.53 | 98.11 |
| 27 Feb 2025 | 2 | OAT | 5y | 3.00 | 27 Feb 2028 | 5.70 | 1.6 | 100 | 1 | — | — | 8.12 | 93.78 |
| 27 Feb 2025 | 3 | BAT buyback | — | 0.01 | 2 Mar 2025 | — | –13.5 | — | 3 | 2.00 | 2.19 | 2.19 | — |
| 27 Feb 2025 | 4 | BAT buyback | 1m | 0.12 | 13 Apr 2025 | — | –1.0 | — | 1 | 2.75 | 2.75 | 2.76 | — |
| 21 Feb 2025 | 1 | BAT | 3m | 0.25 | 25 May 2025 | — | 16.5 | 42 | 25 | 6.78 | 6.64 | 6.75 | — |
| 7 Feb 2025 | 1 | BAT | 3m | 0.25 | 11 May 2025 | — | 27.5 | 85 | 31 | 6.87 | 6.57 | 6.68 | — |
| 31 Jan 2025 | 1 | BAT | 12m | 0.98 | 25 Jan 2026 | — | 19.9 | 100 | — | — | — | — | — |
| 24 Jan 2025 | 1 | BAT | 12m | 0.99 | 25 Jan 2026 | — | 7.0 | 22 | 19 | 6.90 | 6.87 | 7.38 | — |
| 24 Jan 2025 | 2 | OAT | 3y | 2.96 | 13 Jan 2028 | 6.25 | 15.0 | 98 | 23 | — | — | 8.12 | 95.24 |
| 17 Jan 2025 | 1 | BAT | 12m | 0.98 | 11 Jan 2026 | — | 10.7 | 100 | 1 | 7.00 | 7.00 | 7.52 | — |
| 17 Jan 2025 | 2 | OAT | 3y | 2.98 | 13 Jan 2028 | 6.25 | 16.0 | 100 | 4 | — | — | 8.15 | 95.15 |
| 17 Jan 2025 | 3 | BAT buyback | — | 0.04 | 2 Feb 2025 | — | –12.0 | — | 2 | 2.85 | 2.98 | 2.98 | — |
| 17 Jan 2025 | 4 | BAT buyback | 2m | 0.15 | 16 Mar 2025 | — | –7.0 | — | 1 | 3.00 | 3.00 | 3.01 | — |
| 17 Jan 2025 | 5 | BAT buyback | 3m | 0.23 | 13 Apr 2025 | — | –1.5 | — | 1 | 3.00 | 3.00 | 3.02 | — |
| 10 Jan 2025 | 1 | BAT | 12m | 0.99 | 11 Jan 2026 | — | 15.3 | 38 | 27 | 7.05 | 7.01 | 7.54 | — |
| 10 Jan 2025 | 2 | OAT | 3y | 3.00 | 13 Jan 2028 | 6.25 | 6.7 | 88 | 21 | — | — | 8.00 | 95.50 |
| 6 Dec 2024 | 1 | BAT | 6m | 0.22 | 23 Feb 2025 | — | 4.3 | 100 | 2 | 6.50 | 6.50 | 6.60 | — |
| 6 Dec 2024 | 2 | OAT | 5y | 0.89 | 26 Oct 2025 | 6.40 | 7.4 | 100 | 3 | — | — | 7.06 | 99.43 |
| 6 Dec 2024 | 3 | BAT buyback | — | 0.01 | 8 Dec 2024 | — | –5.4 | — | 2 | 2.00 | 2.00 | 2.00 | — |
| 6 Dec 2024 | 4 | BAT buyback | — | 0.01 | 8 Dec 2024 | — | –5.5 | — | 3 | 2.50 | 2.50 | 2.50 | — |
| 30 Sep 2024 | 1 | BAT | 6m | 0.50 | 31 Mar 2025 | — | 1.5 | 34 | 4 | 7.25 | 7.05 | 7.31 | — |
| 30 Sep 2024 | 2 | BAT | 12m | 0.99 | 29 Sep 2025 | — | 6.7 | 100 | 8 | 7.10 | 6.96 | 7.48 | — |
| 30 Sep 2024 | 3 | OAT | 3y | 2.82 | 29 Jul 2027 | 6.15 | 2.3 | 32 | 4 | — | — | 8.09 | 95.24 |
| 6 Sep 2024 | 1 | BAT | 3m | 0.25 | 8 Dec 2024 | — | 28.4 | 93 | 25 | 7.07 | 6.69 | 6.81 | — |
| 22 Aug 2024 | 1 | BAT | 6m | 0.50 | 23 Feb 2025 | — | 12.3 | 96 | 14 | 7.38 | 6.66 | 6.89 | — |
| 22 Aug 2024 | 2 | OAT | 3y | 2.92 | 29 Jul 2027 | 6.15 | 16.2 | 82 | 19 | — | — | 7.58 | 96.34 |
| 22 Aug 2024 | 3 | OAT | 5y | 4.45 | 5 Feb 2029 | 6.40 | 0.9 | 98 | 11 | — | — | 7.80 | 0.95 |
| 9 Aug 2024 | 1 | BAT | 6m | 0.50 | 9 Feb 2025 | — | 4.1 | 100 | 4 | 6.50 | 6.50 | 6.72 | — |
| 9 Aug 2024 | 2 | BAT | 12m | 0.99 | 10 Aug 2025 | — | 23.2 | 100 | 11 | 7.25 | 7.19 | 7.75 | — |
| 9 Aug 2024 | 3 | OAT | 5y | 4.49 | 5 Feb 2029 | 6.40 | 5.4 | 100 | 10 | — | — | 7.83 | 94.70 |
| 9 Aug 2024 | 1 | OAT | 3m | 2.96 | 29 Jul 2027 | 6.15 | 6.2 | 100 | 1 | — | — | 8.07 | 95.10 |
| 26 Jul 2024 | 1 | BAT | 12m | 0.99 | 27 Jul 2025 | — | 18.6 | 100 | 22 | 7.24 | 6.96 | 7.48 | — |
| 26 Jul 2024 | 2 | OAT | 3y | 3.00 | 29 Jul 2027 | 6.15 | 11.3 | 99 | 14 | — | — | 7.69 | 96.01 |
| 26 Jul 2024 | 3 | OAT | 5y | 4.53 | 5 Feb 2029 | 6.40 | 2.2 | 96 | 6 | — | — | 7.80 | 94.76 |
| 12 Jul 2024 | 1 | BAT | 12m | 0.99 | 13 Jul 2025 | — | 17.5 | 97 | 15 | 7.25 | 7.16 | 7.72 | — |
| 12 Jul 2024 | 2 | OAT | 3y | 2.90 | 10 Jun 2027 | 6.15 | 11.2 | 60 | 20 | — | — | 7.95 | 95.47 |
| 12 Jul 2024 | 3 | OAT | 5y | 4.56 | 5 Feb 2029 | 6.40 | 1.6 | 60 | 10 | — | — | 7.84 | 94.59 |
| 24 Jun 2024 | 1 | BAT | 12m | 0.99 | 23 Jun 2025 | — | 6.1 | 100 | 2 | 7.10 | 7.10 | 7.65 | — |
| 24 Jun 2024 | 1 | BAT | 12m | 0.99 | 23 Jun 2025 | — | 26.2 | 100 | 22 | 7.25 | 7.11 | 7.66 | — |
| 24 Jun 2024 | 2 | OAT | 3y | 2.96 | 10 Jun 2027 | 6.15 | 5.6 | 100 | 11 | — | — | 7.92 | 95.48 |
| 24 Jun 2024 | 3 | OAT | 5y | 4.62 | 5 Feb 2029 | 6.40 | 0.3 | 100 | 22 | — | — | 7.84 | 94.54 |
| 7 Jun 2024 | 1 | BAT | 6m | 0.50 | 8 Dec 2024 | — | 32.3 | 97 | 19 | 6.66 | 6.55 | 6.78 | — |
| 7 Jun 2024 | 2 | OAT | 3y | 3.00 | 10 Jun 2027 | 6.15 | — | — | 10 | — | — | — | — |
| 7 Jun 2024 | 3 | OAT | 5y | 4.66 | 5 Feb 2029 | 6.40 | 4.6 | 99 | 13 | — | — | 7.80 | 94.62 |
| 24 May 2024 | 1 | BAT | 6m | 0.50 | 24 Nov 2024 | — | 9.8 | 21 | 20 | 6.68 | 6.68 | 6.91 | — |
| 24 May 2024 | 2 | OAT | 3y | 2.93 | 30 Apr 2027 | 6.15 | 21.9 | 95 | 18 | — | — | 7.87 | 95.64 |
| 24 May 2024 | 3 | OAT | 5y | 4.70 | 5 Feb 2029 | 6.40 | 6.8 | 97 | 18 | — | — | 7.70 | 94.96 |
| 10 May 2024 | 1 | BAT | 3m | 0.25 | 11 Aug 2024 | — | 17.7 | 49 | 16 | 6.50 | 6.49 | 6.60 | — |
| 10 May 2024 | 2 | BAT | 12m | 0.99 | 11 May 2025 | — | — | — | 13 | — | — | — | — |
| 10 May 2024 | 3 | OAT | 3y | 2.96 | 30 Apr 2027 | 6.15 | 15.3 | 100 | 16 | — | — | 7.94 | 95.42 |
| 26 Apr 2024 | 1 | BAT | 12m | 0.99 | 28 Apr 2025 | — | 21.0 | 72 | 20 | 7.22 | 7.10 | 7.65 | — |
| 26 Apr 2024 | 2 | OAT | 3y | 3.00 | 30 Apr 2027 | 6.15 | 11.9 | 63 | 16 | — | — | 7.91 | 95.45 |
| 12 Apr 2024 | 1 | BAT | 3m | 0.25 | 14 Jul 2024 | — | 5.0 | 37 | 18 | 6.50 | 6.49 | 6.60 | — |
| 12 Apr 2024 | 2 | BAT | 12m | 0.99 | 13 Apr 2025 | — | 22.5 | 88 | 40 | 7.25 | 7.06 | 7.60 | — |
| 12 Apr 2024 | 3 | OAT | 5y | 4.81 | 5 Feb 2029 | 6.40 | 5.4 | 71 | 19 | — | — | 7.80 | 94.52 |
| 15 Mar 2024 | 1 | BAT | 12m | 0.99 | 16 Mar 2025 | — | 28.7 | 97 | 18 | 7.30 | 7.08 | 7.63 | — |
| 15 Mar 2024 | 2 | OAT | 3y | 2.85 | 23 Jan 2027 | 6.15 | 4.5 | 94 | 6 | — | — | 7.89 | 95.65 |
| 15 Mar 2024 | 3 | OAT | 5y | 4.89 | 5 Feb 2029 | 6.40 | 1.1 | 100 | 3 | — | — | 7.47 | 95.69 |
| 15 Mar 2024 | 1 | BAT | 12m | 0.88 | 2 Feb 2025 | — | 10.5 | 100 | 5 | 7.05 | 7.05 | 7.52 | — |
| 15 Mar 2024 | 2 | BAT | 12m | 0.96 | 2 Mar 2025 | — | 28.9 | 100 | 4 | 7.05 | 7.05 | 7.57 | — |
| 15 Mar 2024 | 3 | BAT | 12m | 0.99 | 16 Mar 2025 | — | 10.1 | 100 | 1 | 7.05 | 7.05 | 7.59 | — |
| 15 Mar 2024 | 4 | OAT | 3m | 2.85 | 23 Jan 2027 | 6.15 | 12.6 | 100 | 1 | — | — | 8.40 | 94.45 |
| 15 Mar 2024 | 5 | BAT buyback | 3m | 0.25 | 16 Jun 2024 | — | –18.1 | — | 3 | 2.25 | 2.25 | 2.26 | — |
| 15 Mar 2024 | 6 | BAT buyback | 3m | 0.28 | 27 Jun 2024 | — | –11.2 | — | 2 | 2.25 | 2.25 | 2.26 | — |
| 15 Mar 2024 | 7 | BAT buyback | 1m | 0.07 | 14 Apr 2024 | — | –16.0 | — | 2 | 2.00 | 2.06 | 2.07 | — |
| 15 Mar 2024 | 8 | BAT buyback | 2m | 0.17 | 19 May 2024 | — | –5.0 | — | 1 | 2.25 | 2.25 | 2.26 | — |
| 15 Mar 2024 | 9 | BAT buyback | 1m | 0.10 | 22 Apr 2024 | — | –8.0 | — | 1 | 2.25 | 2.25 | 2.26 | — |
| 1 Mar 2024 | 1 | BAT | 6m | 0.50 | 1 Sep 2024 | — | 3.2 | 18 | 22 | 6.82 | 6.77 | 7.01 | — |
| 1 Mar 2024 | 2 | BAT | 12m | 0.99 | 2 Mar 2025 | — | 10.5 | 44 | 15 | 7.12 | 6.90 | 7.42 | — |
| 1 Mar 2024 | 3 | OAT | 3y | 2.89 | 23 Jan 2027 | 6.15 | 24.9 | 100 | 27 | — | — | 7.43 | 96.73 |
| 16 Feb 2024 | 1 | BAT | 3m | 0.25 | 19 May 2024 | — | 21.4 | 30 | 39 | 6.55 | 6.52 | 6.62 | — |
| 16 Feb 2024 | 2 | OAT | 3y | 2.93 | 23 Jan 2027 | 6.15 | 6.1 | 32 | 31 | — | — | 7.56 | 96.42 |
| 2 Feb 2024 | 1 | BAT | 12m | 0.99 | 2 Feb 2025 | — | 26.5 | 95 | 26 | 7.50 | 7.13 | 7.69 | — |
| 2 Feb 2024 | 2 | OAT | 5y | 5.01 | 5 Feb 2029 | 6.40 | 4.0 | 100 | 15 | — | — | 7.70 | 94.77 |
| 22 Jan 2024 | 1 | BAT | 3m | 0.25 | 22 Apr 2024 | — | 27.5 | 87 | 14 | 6.60 | 6.53 | 6.64 | — |
| 22 Jan 2024 | 2 | OAT | 3y | 3.00 | 23 Jan 2027 | 6.15 | — | — | 15 | — | — | — | — |
| 12 Jan 2024 | 1 | BAT | 3m | 0.25 | 14 Apr 2024 | — | 18.1 | 68 | 19 | 6.55 | 6.53 | 6.64 | — |
| 12 Jan 2024 | 2 | BAT | 12m | 0.99 | 12 Jan 2025 | — | 7.5 | 58 | 14 | 7.28 | 7.20 | 7.76 | — |

**2023: 21 auctions, XOF 702bn raised**

Auctions in 2023

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [25 Sep 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-25-09-2023/>) | 29 Sep 2023 | BAT + 2 OAT | 3y 7.59 · 5y 7.69 | 100.0 | 213.1 | 110.0 | 213 | — | — | 7.62 | 74 |
| [15 Sep 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-15-09-2023/>) | 18 Sep 2023 | BAT + 2 OAT | 12m 7.46 · 34m 7.99 · 59m 7.74 | 30.0 | 33.0 | 32.0 | 110 | — | — | 7.80 | 29 |
| [15 Sep 2023](<https://www.umoatitres.org/en/emission/rachat-et-emission-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-15-09-2023-2/>) | 18 Sep 2023 | BAT + OAT | 12m 7.53 · 35m 7.99 | 11.8 | 11.8 | 11.8 | 100 | — | — | 7.59 | 9 |
| [1 Sep 2023](<https://www.umoatitres.org/en/emission/rachat-et-emission-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-01-09-2023/>) | 4 Sep 2023 | BAT + OAT | 12m 7.24 · 35m 7.99 | 17.1 | 17.5 | 17.5 | 102 | — | — | 7.33 | 9 |
| [25 Aug 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-25-08-2023/>) | 28 Aug 2023 | BAT + 2 OAT | 12m 7.77 · 5y 7.56 | 25.0 | 26.9 | 23.4 | 108 | — | — | 7.72 | 47 |
| [11 Aug 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-11-08-2023/>) | 14 Aug 2023 | BAT + 2 OAT | 12m 7.76 · 3y 7.83 · 5y 7.60 | 35.0 | 48.6 | 38.4 | 139 | — | — | 7.75 | 53 |
| [27 Jul 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-27-07-2023/>) | 31 Jul 2023 | BAT + 2 OAT | 6m 7.24 · 3y 7.82 · 5y 7.46 | 35.0 | 39.0 | 37.0 | 111 | — | — | 7.47 | 57 |
| [14 Jul 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-14-07-2023/>) | 17 Jul 2023 | BAT + 2 OAT | 6m 6.99 · 3y 7.48 · 5y 7.45 | 30.0 | 33.3 | 16.4 | 111 | — | — | 7.40 | 37 |
| [27 Jun 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-27-06-2023/>) | 30 Jun 2023 | BAT + 2 OAT | 12m 6.90 · 3y 7.58 · 5y 7.20 | 100.0 | 170.5 | 110.0 | 171 | — | — | 7.42 | 58 |
| [16 Jun 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-16-06-2023/>) | 19 Jun 2023 | BAT + 2 OAT | 12m 7.69 · 3y 7.83 · 5y 7.44 | 30.0 | 33.3 | 30.8 | 111 | — | — | 7.68 | 50 |
| [2 Jun 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-02-06-2023/>) | 5 Jun 2023 | BAT + 2 OAT | 6m 7.25 · 3y 7.63 · 5y 7.19 | 30.0 | 41.5 | 31.5 | 138 | — | — | 7.30 | 46 |
| [19 May 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-19-05-2023/>) | 22 May 2023 | BAT + 2 OAT | 6m 7.46 · 3y 7.43 · 5y 7.14 | 30.0 | 56.8 | 31.3 | 189 | — | — | 7.39 | 47 |
| [5 May 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-05-05-2023/>) | 8 May 2023 | 2 BAT + OAT | 6m 7.04 · 3y 7.12 | 30.0 | 56.9 | 33.0 | 190 | — | — | 7.06 | 42 |
| [24 Apr 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-24-04-2023/>) | 25 Apr 2023 | BAT + 2 OAT | 6m 6.59 · 3y 6.69 | 30.0 | 40.0 | 33.0 | 133 | — | — | 6.61 | 17 |
| [7 Apr 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-07-04-2023/>) | 11 Apr 2023 | BAT + 2 OAT | 6m 6.88 · 3y 7.29 · 5y 7.03 | 30.0 | 33.5 | 32.1 | 112 | — | — | 6.95 | 29 |
| [24 Mar 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-24-03-2023/>) | 27 Mar 2023 | BAT + 2 OAT | 12m 6.31 · 3y 6.84 · 5y 6.87 | 40.0 | 9.7 | 8.6 | 24 | — | — | 6.41 | 13 |
| [10 Mar 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-10-03-2023/>) | 13 Mar 2023 | BAT + OAT | 3m 5.41 · 5y 6.76 | 25.0 | 9.7 | 9.7 | 39 | — | — | 6.03 | 8 |
| [24 Feb 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-24-02-2023/>) | 27 Feb 2023 | BAT + 2 OAT | 12m 5.34 · 3y 7.14 · 5y 6.77 | 35.0 | 16.6 | 14.1 | 47 | — | — | 6.28 | 28 |
| [10 Feb 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-10-02-2023/>) | 13 Feb 2023 | BAT + 2 OAT | 3m 3.91 · 3y 6.30 · 5y 6.44 | 35.0 | 56.2 | 34.8 | 161 | — | — | 5.30 | 43 |
| [27 Jan 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-de-bons-et-obligations-assimilables-du-tresor-du-togo-du-27-01-2023/>) | 30 Jan 2023 | BAT + 2 OAT | 6m 3.75 · 3y 6.00 · 5y 6.13 | 35.0 | 46.5 | 30.2 | 133 | — | — | 4.86 | 37 |
| [13 Jan 2023](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-13-01-2023/>) | 16 Jan 2023 | 2 OAT | 3y 5.59 · 7y 6.14 | 30.0 | 26.1 | 16.1 | 87 | — | — | 5.75 | 21 |

**Tranche detail (64)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 25 Sep 2023 | 1 | BAT | 12m | 0.99 | 26 Sep 2024 | — | — | — | 19 | 0.00 | 0.00 | — | — |
| 25 Sep 2023 | 2 | OAT | 3y | 3.00 | 29 Sep 2026 | 6.00 | 72.1 | 61 | 40 | — | — | 7.59 | 95.87 |
| 25 Sep 2023 | 3 | OAT | 5y | 5.01 | 29 Sep 2028 | 6.25 | 37.9 | 100 | 15 | — | — | 7.69 | 94.19 |
| 15 Sep 2023 | 1 | BAT | 12m | 0.99 | 15 Sep 2024 | — | 8.1 | 89 | 10 | 7.49 | 6.94 | 7.46 | — |
| 15 Sep 2023 | 2 | OAT | 34m | 2.87 | 31 Jul 2026 | 6.00 | 16.8 | 100 | 7 | — | — | 7.99 | 95.05 |
| 15 Sep 2023 | 3 | OAT | 59m | 4.87 | 31 Jul 2028 | 6.25 | 7.1 | 100 | 12 | — | — | 7.74 | 94.11 |
| 15 Sep 2023 | 1 | BAT | 12m | 0.99 | 15 Sep 2024 | — | 10.2 | 100 | 3 | 7.00 | 7.00 | 7.53 | — |
| 15 Sep 2023 | 2 | OAT | 35m | 2.87 | 31 Jul 2026 | 6.00 | 1.6 | 100 | 1 | — | — | 7.99 | 95.05 |
| 15 Sep 2023 | 3 | BAT buyback | 1m | 0.06 | 9 Oct 2023 | — | –5.0 | — | 1 | 2.35 | 2.35 | 2.35 | — |
| 15 Sep 2023 | 4 | BAT buyback | 1.5m | 0.13 | 5 Nov 2023 | — | –17.1 | — | 3 | 2.75 | 2.93 | 2.95 | — |
| 15 Sep 2023 | 5 | BAT buyback | 2m | 0.17 | 19 Nov 2023 | — | –5.0 | — | 1 | 3.00 | 3.00 | 3.02 | — |
| 1 Sep 2023 | 1 | BAT | 12m | 0.99 | 1 Sep 2024 | — | 15.5 | 100 | 3 | 6.75 | 6.75 | 7.24 | — |
| 1 Sep 2023 | 2 | OAT | 35m | 2.91 | 31 Jul 2026 | 6.00 | 2.0 | 100 | 1 | — | — | 7.99 | 95.00 |
| 1 Sep 2023 | 3 | BAT buyback | 1m | 0.10 | 9 Oct 2023 | — | –4.0 | — | 2 | 2.50 | 2.88 | 2.88 | — |
| 1 Sep 2023 | 4 | BAT buyback | 2m | 0.13 | 23 Oct 2023 | — | –12.0 | — | 3 | 2.50 | 2.50 | 2.51 | — |
| 25 Aug 2023 | 1 | BAT | 12m | 0.99 | 25 Aug 2024 | — | 17.8 | 95 | 25 | 7.63 | 7.20 | 7.77 | — |
| 25 Aug 2023 | 2 | OAT | 3y | 2.93 | 31 Jul 2026 | 6.00 | 0.0 | 0 | 6 | — | — | — | — |
| 25 Aug 2023 | 3 | OAT | 5y | 4.93 | 31 Jul 2028 | 6.25 | 5.7 | 74 | 16 | — | — | 7.56 | 94.77 |
| 11 Aug 2023 | 1 | BAT | 12m | 0.99 | 11 Aug 2024 | — | 24.0 | 70 | 28 | 7.50 | 7.19 | 7.76 | — |
| 11 Aug 2023 | 2 | OAT | 3y | 2.96 | 31 Jul 2026 | 6.00 | 9.1 | 99 | 17 | — | — | 7.83 | 95.30 |
| 11 Aug 2023 | 3 | OAT | 5y | 4.97 | 31 Jul 2028 | 6.25 | 5.3 | 100 | 8 | — | — | 7.60 | 94.57 |
| 27 Jul 2023 | 1 | BAT | 6m | 0.50 | 28 Jan 2024 | — | 19.9 | 95 | 19 | 7.50 | 6.98 | 7.24 | — |
| 27 Jul 2023 | 2 | OAT | 3y | 3.00 | 31 Jul 2026 | 6.00 | 13.0 | 93 | 17 | — | — | 7.82 | 95.28 |
| 27 Jul 2023 | 3 | OAT | 5y | 5.01 | 31 Jul 2028 | 6.25 | 4.1 | 100 | 21 | — | — | 7.46 | 95.10 |
| 14 Jul 2023 | 1 | BAT | 6m | 0.50 | 14 Jan 2024 | — | 2.0 | 11 | 14 | 6.75 | 6.75 | 6.99 | — |
| 14 Jul 2023 | 2 | OAT | 3y | 2.81 | 8 May 2026 | 6.00 | 2.3 | 100 | 10 | — | — | 7.48 | 96.33 |
| 14 Jul 2023 | 3 | OAT | 5y | 4.85 | 22 May 2028 | 6.25 | 12.1 | 100 | 13 | — | — | 7.45 | 95.25 |
| 27 Jun 2023 | 1 | BAT | 12m | 0.99 | 27 Jun 2024 | — | 18.2 | 67 | 13 | 6.68 | 6.45 | 6.90 | — |
| 27 Jun 2023 | 2 | OAT | 3y | 3.00 | 30 Jun 2026 | 6.00 | 77.9 | 60 | 38 | — | — | 7.58 | 95.89 |
| 27 Jun 2023 | 3 | OAT | 5y | 5.01 | 30 Jun 2028 | 6.25 | 14.0 | 100 | 7 | — | — | 7.20 | 96.13 |
| 16 Jun 2023 | 1 | BAT | 12m | 0.99 | 16 Jun 2024 | — | 25.1 | 96 | 13 | 7.75 | 7.14 | 7.69 | — |
| 16 Jun 2023 | 2 | OAT | 3y | 2.89 | 8 May 2026 | 6.00 | 3.0 | 67 | 24 | — | — | 7.83 | 95.40 |
| 16 Jun 2023 | 3 | OAT | 5y | 4.93 | 22 May 2028 | 6.25 | 2.6 | 100 | 13 | — | — | 7.44 | 95.20 |
| 2 Jun 2023 | 1 | BAT | 6m | 0.50 | 3 Dec 2023 | — | 26.3 | 72 | 30 | 7.60 | 6.99 | 7.25 | — |
| 2 Jun 2023 | 2 | OAT | 3y | 2.93 | 8 May 2026 | 6.00 | 4.1 | 100 | 10 | — | — | 7.63 | 95.85 |
| 2 Jun 2023 | 3 | OAT | 5y | 4.97 | 22 May 2028 | 6.25 | 1.1 | 100 | 6 | — | — | 7.19 | 96.18 |
| 19 May 2023 | 1 | BAT | 6m | 0.50 | 19 Nov 2023 | — | 20.8 | 47 | 24 | 7.30 | 7.19 | 7.46 | — |
| 19 May 2023 | 2 | OAT | 3y | 2.96 | 8 May 2026 | 6.00 | 4.2 | 67 | 15 | — | — | 7.43 | 96.30 |
| 19 May 2023 | 3 | OAT | 5y | 5.01 | 22 May 2028 | 6.25 | 6.3 | 100 | 8 | — | — | 7.14 | 96.36 |
| 5 May 2023 | 1 | BAT | 6m | 0.50 | 5 Nov 2023 | — | 25.4 | 54 | 30 | 7.30 | 6.79 | 7.04 | — |
| 5 May 2023 | 2 | BAT | 12m | 0.99 | 5 May 2024 | — | — | — | 5 | — | — | — | — |
| 5 May 2023 | 3 | OAT | 3y | 3.00 | 8 May 2026 | 6.00 | 7.6 | 100 | 7 | — | — | 7.12 | 97.07 |
| 24 Apr 2023 | 1 | BAT | 6m | 0.50 | 23 Oct 2023 | — | 26.0 | 84 | 12 | 7.40 | 6.38 | 6.59 | — |
| 24 Apr 2023 | 2 | OAT | 3y | 2.92 | 27 Mar 2026 | 5.70 | 7.0 | 78 | 4 | — | — | 6.69 | 97.45 |
| 24 Apr 2023 | 3 | OAT | 5y | 4.93 | 27 Mar 2028 | 6.00 | — | — | 1 | — | — | — | — |
| 7 Apr 2023 | 1 | BAT | 6m | 0.50 | 9 Oct 2023 | — | 19.0 | 100 | 10 | 7.00 | 6.65 | 6.88 | — |
| 7 Apr 2023 | 2 | OAT | 3y | 2.96 | 27 Mar 2026 | 5.70 | 1.6 | 100 | 6 | — | — | 7.29 | 95.89 |
| 7 Apr 2023 | 3 | OAT | 5y | 4.96 | 27 Mar 2028 | 6.00 | 11.4 | 89 | 13 | — | — | 7.03 | 95.82 |
| 24 Mar 2023 | 1 | BAT | 12m | 0.99 | 24 Mar 2024 | — | 7.1 | 88 | 4 | 6.25 | 5.93 | 6.31 | — |
| 24 Mar 2023 | 2 | OAT | 3y | 3.00 | 27 Mar 2026 | 5.70 | 0.1 | 50 | 2 | — | — | 6.84 | 97.00 |
| 24 Mar 2023 | 3 | OAT | 5y | 5.01 | 27 Mar 2028 | 6.00 | 1.4 | 100 | 7 | — | — | 6.87 | 96.43 |
| 10 Mar 2023 | 1 | BAT | 3m | 0.25 | 11 Jun 2023 | — | 5.2 | 100 | 4 | 5.50 | 5.33 | 5.41 | — |
| 10 Mar 2023 | 2 | OAT | 5y | 4.89 | 30 Jan 2028 | 5.70 | 4.5 | 100 | 4 | — | — | 6.76 | 95.69 |
| 24 Feb 2023 | 1 | BAT | 12m | 0.99 | 25 Feb 2024 | — | 6.5 | 100 | 4 | 5.50 | 5.07 | 5.34 | — |
| 24 Feb 2023 | 2 | OAT | 3y | 3.00 | 27 Feb 2026 | 5.50 | 6.6 | 87 | 10 | — | — | 7.14 | 95.71 |
| 24 Feb 2023 | 3 | OAT | 5y | 5.00 | 27 Feb 2028 | 5.70 | 1.0 | 41 | 14 | — | — | 6.77 | 95.58 |
| 10 Feb 2023 | 1 | BAT | 3m | 0.25 | 14 May 2023 | — | 15.1 | 62 | 11 | 4.10 | 3.87 | 3.91 | — |
| 10 Feb 2023 | 2 | OAT | 3y | 3.00 | 13 Feb 2026 | 5.50 | 10.0 | 53 | 14 | — | — | 6.30 | 97.87 |
| 10 Feb 2023 | 3 | OAT | 5y | 5.00 | 13 Feb 2028 | 5.70 | 9.7 | 76 | 18 | — | — | 6.44 | 96.92 |
| 27 Jan 2023 | 1 | BAT | 6m | 0.50 | 30 Jul 2023 | — | 16.0 | 84 | 10 | 4.00 | 3.68 | 3.75 | — |
| 27 Jan 2023 | 2 | OAT | 3y | 3.00 | 30 Jan 2026 | 5.45 | 3.0 | 24 | 10 | — | — | 6.00 | 98.54 |
| 27 Jan 2023 | 3 | OAT | 5y | 5.00 | 30 Jan 2028 | 5.70 | 11.3 | 75 | 17 | — | — | 6.13 | 98.21 |
| 13 Jan 2023 | 1 | OAT | 3y | 3.00 | 16 Jan 2026 | 5.30 | 11.5 | 54 | 14 | — | — | 5.59 | 99.23 |
| 13 Jan 2023 | 2 | OAT | 7y | 7.01 | 16 Jan 2030 | 5.90 | 4.5 | 100 | 7 | — | — | 6.14 | 98.65 |

**2022: 16 auctions, XOF 473bn raised**

Auctions in 2022

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [11 Nov 2022](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-11-11-2022/>) | 14 Nov 2022 | 2 OAT | 3y 5.44 · 10y 6.04 | 30.0 | 34.1 | 33.0 | 114 | — | — | 5.52 | 31 |
| [14 Oct 2022](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-14-10-2022/>) | 17 Oct 2022 | 2 OAT | 5y 5.81 · 7y 5.96 | 30.0 | 70.3 | 33.0 | 234 | — | — | 5.86 | 44 |
| [2 Sep 2022](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-02-09-2022/>) | 5 Sep 2022 | 2 OAT | 5y 5.82 · 7y 5.94 | 30.0 | 72.6 | 33.0 | 242 | — | — | 5.86 | 58 |
| [19 Aug 2022](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-19-08-2022/>) | 22 Aug 2022 | 2 OAT | 5y 5.82 | 30.0 | 59.0 | 33.0 | 197 | — | — | 5.82 | 44 |
| [5 Aug 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-05-08-2022/>) | 8 Aug 2022 | OAT | 5y 5.76 | 25.0 | 42.1 | 25.0 | 169 | 9,960.00 | 5.76 | 5.76 | 26 |
| [8 Jul 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-08-07-2022/>) | 12 Jul 2022 | 2 OAT | 5y 5.79 · 10y 6.13 | 30.0 | 87.6 | 30.0 | 292 | — | — | 5.90 | 71 |
| [24 Jun 2022](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-24-06-2022/>) | 27 Jun 2022 | 2 OAT | 3y 5.23 · 7y 5.93 | 25.0 | 81.4 | 25.0 | 326 | — | — | 5.41 | 65 |
| [10 Jun 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-10-06-2022/>) | 13 Jun 2022 | OAT | 3y 4.98 | 25.0 | 77.2 | 25.0 | 309 | 10,005.00 | 4.98 | 4.98 | 63 |
| [27 May 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-27-05-2022/>) | 30 May 2022 | OAT | 15y 6.19 | 35.0 | 36.4 | 11.0 | 104 | 9,900.00 | 6.19 | 6.19 | 18 |
| [29 Apr 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-29-04-2022/>) | 4 May 2022 | OAT | 10y 5.87 | 30.0 | 40.0 | 33.0 | 133 | 9,952.00 | 5.87 | 5.87 | 23 |
| [15 Apr 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-15-04-2022/>) | 19 Apr 2022 | OAT | 7y 5.79 | 30.0 | 68.7 | 32.0 | 229 | 9,957.00 | 5.79 | 5.79 | 50 |
| [18 Mar 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-assimilables-du-tresor-du-togo-du-18-03-2022/>) | 21 Mar 2022 | OAT | 5y 4.92 | 30.0 | 104.1 | 30.0 | 347 | 10,171.00 | 4.92 | 4.92 | 63 |
| [4 Mar 2022](<https://www.umoatitres.org/en/emission/emission-de-obligations-assimilables-du-tresor-du-burkina-du-04-03-2022-2/>) | 7 Mar 2022 | OAT | 15y 6.05 | 30.0 | 57.2 | 30.0 | 191 | 9,755.77 | 6.05 | 6.05 | 50 |
| [4 Feb 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-assimilables-du-tresor-du-togo-du-04-02-2022/>) | 7 Feb 2022 | OAT | 10y 5.78 | 35.0 | 69.8 | 35.0 | 200 | 10,000.00 | 5.78 | 5.78 | 46 |
| [21 Jan 2022](<https://www.umoatitres.org/en/emission/emission-dobligations-assimilables-du-tresor-du-togo-du-21-01-2022/>) | 24 Jan 2022 | OAT | 7y 4.96 | 35.0 | 84.0 | 37.0 | 240 | 10,405.00 | 4.96 | 4.96 | 29 |
| [7 Jan 2022](<https://www.umoatitres.org/en/emission/emission-de-bons-assimilables-du-tresor-du-togo-du-07-01-2022/>) | 10 Jan 2022 | BAT | 6m 2.79 | 25.0 | 77.2 | 27.5 | 309 | 3.00 | 2.79 | 2.79 | 42 |

**Tranche detail (22)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 11 Nov 2022 | 1 | OAT | 3y | 3.00 | 14 Nov 2025 | 5.30 | 28.4 | 96 | 22 | — | — | 5.44 | 99.61 |
| 11 Nov 2022 | 2 | OAT | 10y | 10.01 | 14 Nov 2032 | 6.00 | 4.6 | 100 | 9 | — | — | 6.04 | 99.70 |
| 14 Oct 2022 | 1 | OAT | 5y | 4.81 | 8 Aug 2027 | 5.75 | 23.0 | 53 | 25 | — | — | 5.81 | 99.72 |
| 14 Oct 2022 | 2 | OAT | 7y | 6.85 | 22 Aug 2029 | 5.90 | 10.0 | 37 | 19 | — | — | 5.96 | 99.65 |
| 2 Sep 2022 | 1 | OAT | 5y | 4.93 | 8 Aug 2027 | 5.75 | 23.0 | 62 | 33 | — | — | 5.82 | 99.71 |
| 2 Sep 2022 | 2 | OAT | 7y | 6.97 | 22 Aug 2029 | 5.90 | 10.0 | 28 | 25 | — | — | 5.94 | 99.76 |
| 19 Aug 2022 | 1 | OAT | 5y | 4.96 | 8 Aug 2027 | 5.75 | 33.0 | 75 | 22 | — | — | 5.82 | 99.69 |
| 19 Aug 2022 | 2 | OAT | 7y | 7.01 | 22 Aug 2029 | 5.90 | — | — | 22 | — | — | — | — |
| 5 Aug 2022 | 1 | OAT | 5y | 5.00 | 8 Aug 2027 | 5.75 | 25.0 | 59 | 26 | — | — | 5.76 | 99.94 |
| 8 Jul 2022 | 1 | OAT | 5y | 5.00 | 12 Jul 2027 | 5.80 | 20.0 | 44 | 34 | — | — | 5.79 | 100.03 |
| 8 Jul 2022 | 2 | OAT | 10y | 10.01 | 12 Jul 2032 | 6.15 | 10.0 | 24 | 37 | — | — | 6.13 | 100.17 |
| 24 Jun 2022 | 1 | OAT | 3y | 2.96 | 13 Jun 2025 | 5.30 | 18.8 | 35 | 44 | — | — | 5.23 | 100.19 |
| 24 Jun 2022 | 2 | OAT | 7y | 6.82 | 19 Apr 2029 | 5.80 | 6.3 | 23 | 21 | — | — | 5.93 | 99.26 |
| 10 Jun 2022 | 1 | OAT | 3y | 3.00 | 13 Jun 2025 | 5.30 | 25.0 | 32 | 63 | — | — | 4.98 | 100.86 |
| 27 May 2022 | 1 | OAT | 15y | 15.01 | 30 May 2037 | 6.15 | 11.0 | 30 | 18 | — | — | 6.19 | 99.65 |
| 29 Apr 2022 | 1 | OAT | 10y | 10.01 | 4 May 2032 | 5.90 | 33.0 | 82 | 23 | — | — | 5.87 | 100.25 |
| 15 Apr 2022 | 1 | OAT | 7y | 7.01 | 19 Apr 2029 | 5.80 | 32.0 | 47 | 50 | — | — | 5.79 | 100.06 |
| 18 Mar 2022 | 1 | OAT | 5y | 5.00 | 21 Mar 2027 | 5.60 | 30.0 | 29 | 63 | — | — | 4.92 | 102.94 |
| 4 Mar 2022 | 1 | OAT | 15y | 15.01 | 7 Mar 2037 | 6.00 | 30.0 | 52 | 50 | — | — | 6.05 | 99.55 |
| 4 Feb 2022 | 1 | OAT | 10y | 10.01 | 7 Feb 2032 | 5.90 | 35.0 | 50 | 46 | — | — | 5.78 | 100.86 |
| 21 Jan 2022 | 1 | OAT | 7y | 7.01 | 24 Jan 2029 | 5.80 | 37.0 | 44 | 29 | — | — | 4.96 | 104.89 |
| 7 Jan 2022 | 1 | BAT | 6m | 0.50 | 10 Jul 2022 | — | 27.5 | 36 | 42 | 3.00 | 2.76 | 2.79 | — |

**2021: 15 auctions, XOF 612bn raised**

Auctions in 2021

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [19 Nov 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-19-11-2021/>) | 22 Nov 2021 | OAT | 15y 6.22 | 50.0 | 132.6 | 55.0 | 265 | 10,016.77 | 6.22 | 6.22 | 103 |
| [17 Sep 2021](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-17-09-2021/>) | 20 Sep 2021 | 2 OAT | 7y 5.39 · 10y 5.66 | 60.0 | 153.2 | 66.0 | 255 | — | — | 5.59 | 75 |
| [20 Aug 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-20-08-2021/>) | 23 Aug 2021 | OAT | 10y 6.02 | 25.0 | 121.0 | 27.5 | 484 | 10,087.00 | 6.02 | 6.02 | 92 |
| [23 Jul 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-23-07-2021/>) | 26 Jul 2021 | OAT | 10y 6.15 | 25.0 | 86.7 | 27.5 | 347 | 10,015.00 | 6.15 | 6.15 | 63 |
| [11 Jun 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-11-06-2021/>) | 14 Jun 2021 | OAT | 7y 5.90 | 25.0 | 61.4 | 27.5 | 245 | 10,006.00 | 5.90 | 5.90 | 32 |
| [28 May 2021](<https://www.umoatitres.org/en/emission/emission-dobligation-de-relance-du-tresor-du-togo-du-28-05-2021/>) | 31 May 2021 | OAT | 5y 5.66 | 25.0 | 92.5 | 27.5 | 370 | 10,045.00 | 5.66 | 5.66 | 48 |
| [21 May 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-21-05-2021/>) | 25 May 2021 | OAT | 7y 5.95 | 20.0 | 56.8 | 22.0 | 284 | 10,018.00 | 5.95 | 5.95 | 43 |
| [30 Apr 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-de-relance-du-tresor-du-togo-du-30-04-2021/>) | 3 May 2021 | OAT | 5y 5.69 | 20.0 | 52.5 | 22.0 | 263 | 10,027.16 | 5.69 | 5.69 | 29 |
| [23 Apr 2021](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-senegal-du-23-04-2021/>) | 26 Apr 2021 | 2 OAT | 5y 5.50 · 10y 6.05 | 50.0 | 215.0 | 55.0 | 430 | — | — | 5.91 | 133 |
| [16 Apr 2021](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-de-relance-du-tresor-du-togo-du-16-04-2021/>) | 19 Apr 2021 | 3 OAT | 5y 5.78 · 7y 6.09 · 10y 6.32 | 75.0 | 198.9 | 82.5 | 265 | — | — | 6.22 | 169 |
| [19 Mar 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-assimilables-du-tresor-du-togo-du-19-03-2021/>) | 22 Mar 2021 | OAT | 7y 6.22 | 20.0 | 53.7 | 22.0 | 269 | 10,020.00 | 6.22 | 6.22 | 62 |
| [5 Mar 2021](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-05-03-2021/>) | 8 Mar 2021 | 2 OAT | 3y 5.63 · 5y 5.99 | 40.0 | 148.4 | 40.0 | 371 | — | — | 5.87 | 127 |
| [19 Feb 2021](<https://www.umoatitres.org/en/emission/emission-dobligations-assimilables-du-tresor-du-togo-du-19-02-2021/>) | 22 Feb 2021 | OAT | 5y 6.02 | 20.0 | 112.7 | 22.0 | 563 | 10,025.25 | 6.02 | 6.02 | 79 |
| [22 Jan 2021](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligation-assimilables-du-tresor-du-togo-du-22-01-2021/>) | 25 Jan 2021 | 3 OAT | 3y 6.10 · 5y 6.38 · 7y 6.53 | 80.0 | 202.0 | 88.0 | 252 | — | — | 6.37 | 204 |
| [8 Jan 2021](<https://www.umoatitres.org/en/emission/emission-de-bons-assimilables-du-tresor-du-togo-du-08-01-2021/>) | 11 Jan 2021 | BAT | 6m 4.17 | 25.0 | 39.3 | 27.5 | 157 | 4.23 | 4.17 | 4.17 | 30 |

**Tranche detail (22)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 19 Nov 2021 | 1 | OAT | 15y | 15.01 | 22 Nov 2036 | 6.30 | 55.0 | 41 | 103 | — | — | 6.22 | 100.78 |
| 17 Sep 2021 | 1 | OAT | 7y | 7.01 | 20 Sep 2028 | 5.90 | 16.5 | 50 | 16 | — | — | 5.39 | 102.89 |
| 17 Sep 2021 | 2 | OAT | 10y | 10.01 | 20 Sep 2031 | 6.10 | 49.5 | 41 | 59 | — | — | 5.66 | 103.25 |
| 20 Aug 2021 | 1 | OAT | 10y | 10.01 | 23 Aug 2031 | 6.15 | 27.5 | 23 | 92 | — | — | 6.02 | 100.92 |
| 23 Jul 2021 | 1 | OAT | 10y | 10.01 | 26 Jul 2031 | 6.20 | 27.5 | 32 | 63 | — | — | 6.15 | 100.38 |
| 11 Jun 2021 | 1 | OAT | 7y | 7.01 | 14 Jun 2028 | 5.98 | 27.5 | 45 | 32 | — | — | 5.90 | 100.44 |
| 28 May 2021 | 1 | OAT | 5y | 4.93 | 3 May 2026 | 5.80 | 27.5 | 30 | 48 | — | — | 5.66 | 100.57 |
| 21 May 2021 | 1 | OAT | 7y | 7.01 | 25 May 2028 | 6.00 | 22.0 | 39 | 43 | — | — | 5.95 | 100.30 |
| 30 Apr 2021 | 1 | OAT | 5y | 5.00 | 3 May 2026 | 5.80 | 22.0 | 42 | 29 | — | — | 5.69 | 100.46 |
| 23 Apr 2021 | 1 | OAT | 5y | 5.00 | 26 Apr 2026 | 5.60 | 13.9 | 16 | 39 | — | — | 5.50 | 100.42 |
| 23 Apr 2021 | 2 | OAT | 10y | 10.01 | 26 Apr 2031 | 6.00 | 41.1 | 32 | 94 | — | — | 6.05 | 99.64 |
| 16 Apr 2021 | 1 | OAT | 5y | 5.00 | 19 Apr 2026 | 5.90 | 8.2 | 12 | 43 | — | — | 5.78 | 100.51 |
| 16 Apr 2021 | 2 | OAT | 7y | 7.01 | 19 Apr 2028 | 6.15 | 15.5 | 35 | 71 | — | — | 6.09 | 100.31 |
| 16 Apr 2021 | 3 | OAT | 10y | 10.01 | 19 Apr 2031 | 6.25 | 58.7 | 68 | 55 | — | — | 6.32 | 99.46 |
| 19 Mar 2021 | 1 | OAT | 7y | 7.01 | 22 Mar 2028 | 6.30 | 22.0 | 41 | 62 | — | — | 6.22 | 100.42 |
| 5 Mar 2021 | 1 | OAT | 3y | 3.00 | 8 Mar 2024 | 5.85 | 13.7 | 35 | 27 | — | — | 5.63 | 100.59 |
| 5 Mar 2021 | 2 | OAT | 5y | 4.96 | 22 Feb 2026 | 6.10 | 26.3 | 24 | 100 | — | — | 5.99 | 100.43 |
| 19 Feb 2021 | 1 | OAT | 5y | 5.00 | 22 Feb 2026 | 6.10 | 22.0 | 20 | 79 | — | — | 6.02 | 100.35 |
| 22 Jan 2021 | 1 | OAT | 3y | 3.00 | 25 Jan 2024 | 6.15 | 24.4 | 32 | 64 | — | — | 6.10 | 100.13 |
| 22 Jan 2021 | 2 | OAT | 5y | 5.00 | 25 Jan 2026 | 6.40 | 22.8 | 44 | 67 | — | — | 6.38 | 100.08 |
| 22 Jan 2021 | 3 | OAT | 7y | 7.00 | 25 Jan 2028 | 6.50 | 40.8 | 55 | 73 | — | — | 6.53 | 99.81 |
| 8 Jan 2021 | 1 | BAT | 6m | 0.50 | 11 Jul 2021 | — | 27.5 | 70 | 30 | 4.23 | 4.08 | 4.17 | — |

**2020: 18 auctions, XOF 733bn raised**

Auctions in 2020

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [27 Nov 2020](<https://www.umoatitres.org/en/emission/emission-de-obligations-assimilables-du-tresor-togo-du-27-11-2020/>) | 30 Nov 2020 | 2 OAT | 5y 6.31 · 7y 6.49 | 20.0 | 59.8 | 22.0 | 299 | — | — | 6.41 | 55 |
| [23 Oct 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligation-assimilables-du-tresor-du-togo-du-23-10-2020/>) | 26 Oct 2020 | 2 OAT | 5y 6.20 · 7y 6.49 | 25.0 | 94.9 | 27.5 | 380 | — | — | 6.46 | 87 |
| [25 Sep 2020](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-25-09-2020/>) | 28 Sep 2020 | OAT | 5y 6.39 | 25.0 | 71.2 | 27.5 | 285 | 10,000.06 | 6.39 | 6.39 | 66 |
| [11 Sep 2020](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-11-09-2020/>) | 14 Sep 2020 | OAT | 3y 6.15 | 25.0 | 69.5 | 27.5 | 278 | 10,000.00 | 6.15 | 6.15 | 84 |
| [21 Aug 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-21-08-2020/>) | 24 Aug 2020 | 2 OAT | 3y 6.25 · 5y 6.50 | 30.0 | 76.7 | 33.0 | 256 | — | — | 6.41 | 91 |
| [13 Aug 2020](<https://www.umoatitres.org/en/emission/bons-covid-19-du-tresor-du-togo-du-13-08-2020/>) | 14 Aug 2020 | BAT | 3m 2.26 | 70.0 | 160.9 | 70.0 | 230 | 2.29 | 2.26 | 2.26 | 43 |
| [11 Aug 2020](<https://www.umoatitres.org/en/emission/bons-covid-19-du-tresor-du-niger-du-11-08-2020/>) | 12 Aug 2020 | BAT | 3m 2.32 | 100.0 | 146.5 | 110.0 | 146 | 2.39 | 2.32 | 2.32 | 31 |
| [10 Aug 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-10-08-2020/>) | 11 Aug 2020 | 2 OAT | 3y 6.58 · 5y 6.57 | 25.0 | 36.6 | 27.5 | 146 | — | — | 6.58 | 57 |
| [10 Jul 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-dobligations-assimilables-du-tresor-du-togo-du-10-07-2020/>) | 13 Jul 2020 | 2 OAT | 3y 6.51 · 5y 6.57 | 30.0 | 67.4 | 32.9 | 225 | — | — | 6.51 | 95 |
| [5 Jun 2020](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-05-06-2020/>) | 8 Jun 2020 | BAT | 12m 5.10 | 20.0 | 26.3 | 21.8 | 132 | 5.20 | 5.10 | 5.10 | 35 |
| [14 May 2020](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-14-05-2020/>) | 15 May 2020 | BAT | 3m 2.78 | 108.0 | 224.0 | 108.0 | 207 | 2.79 | 2.78 | 2.78 | 45 |
| [8 May 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-08-05-2020/>) | 11 May 2020 | 2 OAT | 3y 6.10 · 5y 6.48 | 35.0 | 44.7 | 38.5 | 128 | — | — | 6.26 | 79 |
| [17 Apr 2020](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-17-04-2020/>) | 20 Apr 2020 | BAT | 12m 5.32 | 20.0 | 29.0 | 22.0 | 145 | 5.25 | 5.32 | 5.32 | 35 |
| [13 Mar 2020](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-13-03-2020/>) | 16 Mar 2020 | 3 OAT | 3y 6.15 · 5y 6.51 · 7y 6.81 | 50.0 | 75.8 | 55.0 | 152 | — | — | 6.37 | 87 |
| [28 Feb 2020](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-28-02-2020/>) | 2 Mar 2020 | OAT | 5y 6.37 | 25.0 | 56.2 | 27.5 | 225 | 10,000.00 | 6.37 | 6.37 | 66 |
| [14 Feb 2020](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-14-02-2020/>) | 17 Feb 2020 | OAT | 3y 6.14 | 25.0 | 52.8 | 27.5 | 211 | 10,000.00 | 6.14 | 6.14 | 46 |
| [31 Jan 2020](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-31-01-2020/>) | 3 Feb 2020 | OAT | 3y 6.11 | 25.0 | 74.1 | 27.5 | 296 | 10,000.00 | 6.11 | 6.11 | 72 |
| [17 Jan 2020](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-17-01-2020/>) | 20 Jan 2020 | BAT | 12m 5.21 | 25.0 | 69.1 | 27.5 | 277 | 4.99 | 5.21 | 5.21 | 43 |

**Tranche detail (26)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 27 Nov 2020 | 1 | OAT | 5y | 4.91 | 26 Oct 2025 | 6.40 | 9.3 | 25 | 30 | — | — | 6.31 | 100.36 |
| 27 Nov 2020 | 2 | OAT | 7y | 6.29 | 16 Mar 2027 | 6.50 | 12.7 | 54 | 25 | — | — | 6.49 | 100.01 |
| 23 Oct 2020 | 1 | OAT | 5y | 5.00 | 26 Oct 2025 | 6.40 | 3.3 | 6 | 39 | — | — | 6.20 | 100.83 |
| 23 Oct 2020 | 2 | OAT | 7y | 6.39 | 16 Mar 2027 | 6.50 | 24.2 | 63 | 48 | — | — | 6.49 | 100.01 |
| 25 Sep 2020 | 1 | OAT | 5y | 4.91 | 24 Aug 2025 | 6.40 | 27.5 | 39 | 66 | — | — | 6.39 | 100.04 |
| 11 Sep 2020 | 1 | OAT | 3y | 2.94 | 24 Aug 2023 | 6.15 | 27.5 | 40 | 84 | — | — | 6.15 | 100.01 |
| 21 Aug 2020 | 1 | OAT | 3y | 3.00 | 24 Aug 2023 | 6.15 | 12.5 | 25 | 52 | — | — | 6.25 | 99.72 |
| 21 Aug 2020 | 2 | OAT | 5y | 5.00 | 24 Aug 2025 | 6.40 | 20.5 | 79 | 39 | — | — | 6.50 | 99.57 |
| 13 Aug 2020 | 1 | BAT | 3m | 0.25 | 12 Nov 2020 | — | 70.0 | 44 | 43 | 2.29 | 2.25 | 2.26 | — |
| 11 Aug 2020 | 1 | BAT | 3m | 0.25 | 10 Nov 2020 | — | 110.0 | 75 | 31 | 2.39 | 2.31 | 2.32 | — |
| 10 Aug 2020 | 1 | OAT | 3y | 3.00 | 11 Aug 2023 | 6.15 | 24.3 | 87 | 32 | — | — | 6.58 | 98.87 |
| 10 Aug 2020 | 2 | OAT | 5y | 5.00 | 11 Aug 2025 | 6.40 | 3.2 | 37 | 25 | — | — | 6.57 | 99.31 |
| 10 Jul 2020 | 1 | OAT | 3y | 3.00 | 13 Jul 2023 | 6.15 | 31.3 | 77 | 46 | — | — | 6.51 | 99.04 |
| 10 Jul 2020 | 2 | OAT | 5y | 5.00 | 13 Jul 2025 | 6.40 | 1.6 | 6 | 49 | — | — | 6.57 | 99.31 |
| 5 Jun 2020 | 1 | BAT | 12m | 0.99 | 6 Jun 2021 | — | 21.8 | 83 | 35 | 5.20 | 4.85 | 5.10 | — |
| 14 May 2020 | 1 | BAT | 3m | 0.25 | 13 Aug 2020 | — | 108.0 | 48 | 45 | 2.79 | 2.76 | 2.78 | — |
| 8 May 2020 | 1 | OAT | 3y | 2.85 | 16 Mar 2023 | 6.15 | 22.4 | 100 | 35 | — | — | 6.10 | 99.20 |
| 8 May 2020 | 2 | OAT | 5y | 4.81 | 2 Mar 2025 | 6.40 | 16.1 | 72 | 44 | — | — | 6.48 | 98.45 |
| 17 Apr 2020 | 1 | BAT | 12m | 0.99 | 18 Apr 2021 | — | 22.0 | 76 | 35 | 5.25 | 5.05 | 5.32 | — |
| 13 Mar 2020 | 1 | OAT | 3y | 3.00 | 16 Mar 2023 | 6.15 | 31.6 | 66 | 37 | — | — | 6.15 | 100.00 |
| 13 Mar 2020 | 2 | OAT | 5y | 4.96 | 2 Mar 2025 | 6.40 | 10.8 | 92 | 17 | — | — | 6.51 | 99.31 |
| 13 Mar 2020 | 3 | OAT | 7y | 7.00 | 16 Mar 2027 | 6.50 | 12.5 | 79 | 33 | — | — | 6.81 | 98.30 |
| 28 Feb 2020 | 1 | OAT | 5y | 5.00 | 2 Mar 2025 | 6.40 | 27.5 | 49 | 66 | — | — | 6.37 | 100.14 |
| 14 Feb 2020 | 1 | OAT | 3y | 2.96 | 3 Feb 2023 | 6.15 | 27.5 | 52 | 46 | — | — | 6.14 | 100.04 |
| 31 Jan 2020 | 1 | OAT | 3y | 3.00 | 3 Feb 2023 | 6.15 | 27.5 | 37 | 72 | — | — | 6.11 | 100.11 |
| 17 Jan 2020 | 1 | BAT | 12m | 0.99 | 17 Jan 2021 | — | 27.5 | 40 | 43 | 4.99 | 4.95 | 5.21 | — |

**2019: 16 auctions, XOF 321bn raised**

Auctions in 2019

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [4 Oct 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-04-10-2019/>) | 7 Oct 2019 | OAT | 3y 6.40 | 20.0 | 47.3 | 22.0 | 237 | 9,925.00 | 6.40 | 6.40 | 33 |
| [6 Sep 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-06-09-2019/>) | 9 Sep 2019 | OAT | 5y 6.62 | 20.0 | 48.5 | 22.0 | 242 | 9,902.00 | 6.62 | 6.62 | 67 |
| [9 Aug 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-09-08-2019/>) | 13 Aug 2019 | OAT | 3y 6.55 | 20.0 | 29.6 | 22.0 | 148 | 9,850.00 | 6.55 | 6.55 | 47 |
| [26 Jul 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-26-07-2019/>) | 29 Jul 2019 | OAT | 5y 6.68 | 20.0 | 37.5 | 22.0 | 188 | 9,900.00 | 6.68 | 6.68 | 60 |
| [12 Jul 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-12-07-2019/>) | 15 Jul 2019 | OAT | 3y 6.52 | 20.0 | 43.1 | 22.0 | 215 | 9,900.00 | 6.52 | 6.52 | 50 |
| [28 Jun 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-28-06-2019/>) | 1 Jul 2019 | OAT | 3y 6.62 | 20.0 | 40.2 | 22.0 | 201 | 9,801.51 | 6.62 | 6.62 | 50 |
| [14 Jun 2019](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-14-06-2019/>) | 17 Jun 2019 | BAT | 12m 6.19 | 20.0 | 21.4 | 15.7 | 107 | 6.00 | 6.19 | 6.19 | 32 |
| [31 May 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-31-05-2019/>) | 3 Jun 2019 | OAT | 3y 6.29 | 15.0 | 41.8 | 16.5 | 279 | 9,907.00 | 6.29 | 6.29 | 44 |
| [17 May 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-17-05-2019/>) | 20 May 2019 | OAT | 5y 6.62 | 20.0 | 62.1 | 22.0 | 310 | 9,901.00 | 6.62 | 6.62 | 68 |
| [19 Apr 2019](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-19-04-2019/>) | 23 Apr 2019 | BAT | 12m 5.97 | 20.0 | 77.1 | 22.0 | 386 | 5.75 | 5.97 | 5.97 | 49 |
| [5 Apr 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-05-04-2019/>) | 8 Apr 2019 | OAT | 3y 7.17 | 20.0 | 77.2 | 22.0 | 386 | 9,750.00 | 7.17 | 7.17 | 65 |
| [8 Mar 2019](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-08-03-2019/>) | 11 Mar 2019 | 2 OAT | 3y 7.26 · 5y 7.34 | 20.0 | 25.6 | 22.0 | 128 | — | — | 7.28 | 32 |
| [22 Feb 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-22-02-2019/>) | 25 Feb 2019 | OAT | 3y 7.88 | 15.0 | 35.7 | 13.0 | 238 | 9,661.00 | 7.88 | 7.88 | 35 |
| [8 Feb 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-08-02-2019/>) | 11 Feb 2019 | OAT | 3y 7.57 | 20.0 | 27.8 | 20.0 | 139 | 9,550.00 | 7.57 | 7.57 | 34 |
| [25 Jan 2019](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-25-01-2019/>) | 28 Jan 2019 | OAT | 3y 7.38 | 20.0 | 36.1 | 22.0 | 180 | 9,651.67 | 7.38 | 7.38 | 58 |
| [10 Jan 2019](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-10-01-2019/>) | 11 Jan 2019 | BAT | 12m 6.89 | 20.0 | 18.6 | 13.6 | 93 | 6.50 | 6.89 | 6.89 | 21 |

**Tranche detail (17)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4 Oct 2019 | 1 | OAT | 3y | 3.00 | 7 Oct 2022 | 6.25 | 22.0 | 46 | 33 | — | — | 6.40 | 99.60 |
| 6 Sep 2019 | 1 | OAT | 5y | 5.01 | 9 Sep 2024 | 6.50 | 22.0 | 45 | 67 | — | — | 6.62 | 99.47 |
| 9 Aug 2019 | 1 | OAT | 3y | 2.92 | 15 Jul 2022 | 6.25 | 22.0 | 74 | 47 | — | — | 6.55 | 99.19 |
| 26 Jul 2019 | 1 | OAT | 5y | 4.62 | 11 Mar 2024 | 6.50 | 22.0 | 59 | 60 | — | — | 6.68 | 99.22 |
| 12 Jul 2019 | 1 | OAT | 3y | 3.00 | 15 Jul 2022 | 6.25 | 22.0 | 51 | 50 | — | — | 6.52 | 99.27 |
| 28 Jun 2019 | 1 | OAT | 3y | 2.93 | 3 Jun 2022 | 6.25 | 22.0 | 55 | 50 | — | — | 6.62 | 99.02 |
| 14 Jun 2019 | 1 | BAT | 12m | 0.99 | 14 Jun 2020 | — | 15.7 | 74 | 32 | 6.00 | 5.83 | 6.19 | — |
| 31 May 2019 | 1 | OAT | 3y | 3.00 | 3 Jun 2022 | 6.25 | 16.5 | 39 | 44 | — | — | 6.29 | 99.89 |
| 17 May 2019 | 1 | OAT | 5y | 4.81 | 11 Mar 2024 | 6.50 | 22.0 | 35 | 68 | — | — | 6.62 | 99.48 |
| 19 Apr 2019 | 1 | BAT | 12m | 0.99 | 20 Apr 2020 | — | 22.0 | 29 | 49 | 5.75 | 5.63 | 5.97 | — |
| 5 Apr 2019 | 1 | OAT | 3y | 2.93 | 11 Mar 2022 | 6.25 | 22.0 | 28 | 65 | — | — | 7.17 | 97.61 |
| 8 Mar 2019 | 1 | OAT | 3y | 3.00 | 11 Mar 2022 | 6.25 | 16.6 | 84 | 20 | — | — | 7.26 | 97.34 |
| 8 Mar 2019 | 2 | OAT | 5y | 5.01 | 11 Mar 2024 | 6.50 | 5.4 | 93 | 12 | — | — | 7.34 | 96.54 |
| 22 Feb 2019 | 1 | OAT | 3y | 2.16 | 23 Apr 2021 | 6.25 | 13.0 | 36 | 35 | — | — | 7.88 | 96.84 |
| 8 Feb 2019 | 1 | OAT | 3y | 3.00 | 11 Feb 2022 | 6.25 | 20.0 | 72 | 34 | — | — | 7.57 | 96.56 |
| 25 Jan 2019 | 1 | OAT | 3y | 3.00 | 28 Jan 2022 | 6.25 | 22.0 | 61 | 58 | — | — | 7.38 | 97.03 |
| 10 Jan 2019 | 1 | BAT | 12m | 0.99 | 9 Jan 2020 | — | 13.6 | 73 | 21 | 6.50 | 6.44 | 6.89 | — |

**2018: 16 auctions, XOF 310bn raised**

Auctions in 2018

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [26 Oct 2018](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-26-10-2018/>) | 29 Oct 2018 | 2 OAT | 3y 7.79 · 5y 7.47 | 50.0 | 27.3 | 25.1 | 55 | — | — | 7.74 | 21 |
| [12 Oct 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-12-10-2018/>) | 15 Oct 2018 | BAT | 12m 6.55 | 25.0 | 25.5 | 24.1 | 102 | 6.50 | 6.55 | 6.55 | 24 |
| [28 Sep 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-28-09-2018/>) | 1 Oct 2018 | BAT | 12m 6.54 | 20.0 | 16.9 | 16.9 | 85 | 6.50 | 6.54 | 6.54 | 26 |
| [31 Aug 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-31-08-2018/>) | 3 Sep 2018 | OAT | 3y 7.57 | 20.0 | 29.3 | 21.2 | 147 | 9,650.00 | 7.57 | 7.57 | 25 |
| [17 Aug 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-17-08-2018/>) | 20 Aug 2018 | OAT | 3y 7.92 | 20.0 | 17.1 | 14.5 | 85 | 9,700.00 | 7.92 | 7.92 | 16 |
| [20 Jul 2018](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-20-07-2018/>) | 23 Jul 2018 | 2 OAT | 3y 7.57 · 5y 7.36 | 50.0 | 57.5 | 55.0 | 115 | — | — | 7.55 | 20 |
| [22 Jun 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-22-06-2018/>) | 25 Jun 2018 | BAT | 12m 6.78 | 20.0 | 22.5 | 21.5 | 113 | 6.78 | 6.78 | 6.78 | 42 |
| [8 Jun 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-08-06-2018/>) | 11 Jun 2018 | OAT | 3y 7.84 | 20.0 | 14.6 | 14.6 | 73 | 9,500.00 | 7.84 | 7.84 | 27 |
| [4 May 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-04-05-2018/>) | 7 May 2018 | BAT | 12m 6.94 | 20.0 | 24.7 | 22.0 | 124 | 6.75 | 6.94 | 6.94 | 39 |
| [20 Apr 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-20-04-2018/>) | 23 Apr 2018 | OAT | 3y 7.55 | 15.0 | 17.2 | 15.7 | 115 | 9,500.00 | 7.55 | 7.55 | 36 |
| [30 Mar 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-30-03-2018/>) | 3 Apr 2018 | OAT | 5y 7.63 | 20.0 | 21.7 | 21.6 | 109 | 9,600.00 | 7.63 | 7.63 | 14 |
| [16 Mar 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-16-03-2018/>) | 19 Mar 2018 | BAT | 12m 7.10 | 20.0 | 17.8 | 17.8 | 89 | 6.91 | 7.10 | 7.10 | 12 |
| [2 Mar 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-02-03-2018/>) | 5 Mar 2018 | OAT | 3y | 20.0 | 3.3 | 0.0 | 17 | — | — | — | 9 |
| [16 Feb 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-16-02-2018/>) | 19 Feb 2018 | BAT | 12m 7.04 | 20.0 | 19.1 | 19.1 | 95 | 6.90 | 7.04 | 7.04 | 17 |
| [26 Jan 2018](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-26-01-2018/>) | 29 Jan 2018 | OAT | 3y 7.69 | 15.0 | 16.1 | 16.0 | 107 | 9,500.00 | 7.69 | 7.69 | 22 |
| [12 Jan 2018](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-12-01-2018/>) | 15 Jan 2018 | BAT | 12m 7.19 | 15.0 | 5.1 | 5.1 | 34 | 6.90 | 7.19 | 7.19 | 9 |

**Tranche detail (18)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 26 Oct 2018 | 1 | OAT | 3y | 1.90 | 20 Sep 2020 | 6.00 | 21.0 | 90 | 14 | — | — | 7.79 | 96.91 |
| 26 Oct 2018 | 2 | OAT | 5y | 3.90 | 20 Sep 2022 | 6.25 | 4.0 | 100 | 7 | — | — | 7.47 | 95.95 |
| 12 Oct 2018 | 1 | BAT | 12m | 0.99 | 13 Oct 2019 | — | 24.1 | 95 | 24 | 6.50 | 6.15 | 6.55 | — |
| 28 Sep 2018 | 1 | BAT | 12m | 0.99 | 29 Sep 2019 | — | 16.9 | 100 | 26 | 6.50 | 6.14 | 6.54 | — |
| 31 Aug 2018 | 1 | OAT | 3y | 3.00 | 3 Sep 2021 | 6.25 | 21.2 | 72 | 25 | — | — | 7.57 | 96.56 |
| 17 Aug 2018 | 1 | OAT | 3y | 1.67 | 21 Apr 2020 | 6.00 | 14.5 | 85 | 16 | — | — | 7.92 | 97.03 |
| 20 Jul 2018 | 1 | OAT | 3y | 3.00 | 23 Jul 2021 | 6.25 | 48.5 | 95 | 14 | — | — | 7.57 | 96.55 |
| 20 Jul 2018 | 2 | OAT | 5y | 5.00 | 23 Jul 2023 | 6.50 | 6.5 | 100 | 6 | — | — | 7.36 | 96.50 |
| 22 Jun 2018 | 1 | BAT | 12m | 0.99 | 23 Jun 2019 | — | 21.5 | 96 | 42 | 6.78 | 6.35 | 6.78 | — |
| 8 Jun 2018 | 1 | OAT | 3y | 3.00 | 11 Jun 2021 | 6.25 | 14.6 | 100 | 27 | — | — | 7.84 | 95.88 |
| 4 May 2018 | 1 | BAT | 12m | 0.99 | 5 May 2019 | — | 22.0 | 89 | 39 | 6.75 | 6.48 | 6.94 | — |
| 20 Apr 2018 | 1 | OAT | 3y | 3.00 | 23 Apr 2021 | 6.25 | 15.7 | 91 | 36 | — | — | 7.55 | 96.61 |
| 30 Mar 2018 | 1 | OAT | 5y | 5.00 | 3 Apr 2023 | 6.50 | 21.6 | 99 | 14 | — | — | 7.63 | 96.22 |
| 16 Mar 2018 | 1 | BAT | 12m | 0.99 | 17 Mar 2019 | — | 17.8 | 100 | 12 | 6.91 | 6.62 | 7.10 | — |
| 2 Mar 2018 | 1 | OAT | 3y | 2.91 | 29 Jan 2021 | 6.25 | 0.0 | 0 | 9 | — | — | — | — |
| 16 Feb 2018 | 1 | BAT | 12m | 0.99 | 17 Feb 2019 | — | 19.1 | 100 | 17 | 6.90 | 6.58 | 7.04 | — |
| 26 Jan 2018 | 1 | OAT | 3y | 3.00 | 29 Jan 2021 | 6.25 | 16.0 | 100 | 22 | — | — | 7.69 | 96.26 |
| 12 Jan 2018 | 1 | BAT | 12m | 0.99 | 13 Jan 2019 | — | 5.1 | 100 | 9 | 6.90 | 6.71 | 7.19 | — |

**2017: 14 auctions, XOF 432bn raised**

Auctions in 2017

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [29 Nov 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-29-11-2017/>) | 30 Nov 2017 | BAT + OAT | 12m 6.74 · 3y 7.78 | 15.0 | 15.4 | 15.1 | 102 | — | — | 7.58 | 22 |
| [20 Nov 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-20-11-2017/>) | 21 Nov 2017 | BAT + OAT | 6m 6.42 · 3y 7.75 | 15.0 | 13.8 | 13.8 | 92 | — | — | 7.08 | 18 |
| [14 Nov 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-14-11-2017/>) | 15 Nov 2017 | BAT + OAT | 3m 5.99 · 3y 7.64 | 25.0 | 32.3 | 27.5 | 129 | — | — | 6.54 | 35 |
| [3 Nov 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-03-11-2017/>) | 6 Nov 2017 | BAT + OAT | 11m 6.42 · 3y 7.68 | 25.0 | 11.6 | 11.6 | 46 | — | — | 7.57 | 23 |
| [11 Oct 2017](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-11-10-2017/>) | 12 Oct 2017 | BAT | 12m 6.25 | 25.0 | 14.3 | 13.4 | 57 | 6.00 | 6.25 | 6.25 | 18 |
| [19 Sep 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-19-09-2017/>) | 20 Sep 2017 | 3 OAT | 3y 7.35 · 5y 7.40 · 7y 7.31 | 30.0 | 16.3 | 16.3 | 54 | — | — | 7.37 | 12 |
| [8 Aug 2017](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-08-08-2017/>) | 9 Aug 2017 | OAT | 7y 7.04 | 166.0 | 182.1 | 181.1 | 110 | 9,600.00 | 7.04 | 7.04 | 68 |
| [17 Jul 2017](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-17-07-2017/>) | 18 Jul 2017 | BAT | 3m 5.99 | 25.0 | 37.8 | 27.5 | 151 | 6.00 | 5.99 | 5.99 | 25 |
| [4 Jul 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-04-07-2017/>) | 5 Jul 2017 | 2 OAT | 5y 7.10 | 30.0 | 10.3 | 8.7 | 34 | — | — | 7.10 | 34 |
| [30 May 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-30-05-2017/>) | 31 May 2017 | BAT + 2 OAT | 12m 6.86 · 11y 7.29 | 60.0 | 57.0 | 53.9 | 95 | — | — | 7.21 | 25 |
| [22 May 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-22-05-2017/>) | 23 May 2017 | 2 BAT + OAT | 6m 6.62 | 25.0 | 20.8 | 18.0 | 83 | — | — | 6.62 | 18 |
| [20 Apr 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-20-04-2017/>) | 21 Apr 2017 | BAT + OAT | 6m 6.09 · 3y 7.57 | 20.0 | 12.6 | 12.6 | 63 | — | — | 6.96 | 17 |
| [8 Feb 2017](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-08-02-2017/>) | 9 Feb 2017 | OAT | 3y 6.95 | 25.0 | 12.3 | 10.1 | 49 | 9,502.00 | 6.95 | 6.95 | 29 |
| [5 Jan 2017](<https://www.umoatitres.org/en/emission/emission-simultanee-du-togo-du-05-01-2017/>) | 6 Jan 2017 | BAT + OAT | 6m 6.09 | 20.0 | 24.9 | 22.0 | 125 | — | — | 6.09 | 23 |

**Tranche detail (27)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 29 Nov 2017 | 1 | BAT | 12m | 0.99 | 28 Nov 2018 | — | 2.9 | 93 | 7 | 6.40 | 6.31 | 6.74 | — |
| 29 Nov 2017 | 2 | OAT | 3y | 2.96 | 15 Nov 2020 | 6.25 | 12.2 | 100 | 15 | — | — | 7.78 | 96.07 |
| 20 Nov 2017 | 1 | BAT | 6m | 0.52 | 29 May 2018 | — | 7.0 | 100 | 7 | 6.30 | 6.21 | 6.42 | — |
| 20 Nov 2017 | 2 | OAT | 3y | 2.99 | 15 Nov 2020 | 6.25 | 6.8 | 100 | 11 | — | — | 7.75 | 96.13 |
| 14 Nov 2017 | 1 | BAT | 3m | 0.25 | 14 Feb 2018 | — | 18.4 | 86 | 10 | 6.25 | 5.90 | 5.99 | — |
| 14 Nov 2017 | 2 | OAT | 3y | 3.00 | 15 Nov 2020 | 6.25 | 9.1 | 84 | 25 | — | — | 7.64 | 96.38 |
| 3 Nov 2017 | 1 | BAT | 11m | 0.93 | 10 Oct 2018 | — | 1.0 | 100 | 2 | 6.10 | 6.05 | 6.42 | — |
| 3 Nov 2017 | 2 | OAT | 3y | 3.00 | 6 Nov 2020 | 6.25 | 10.6 | 100 | 21 | — | — | 7.68 | 96.27 |
| 11 Oct 2017 | 1 | BAT | 12m | 0.99 | 10 Oct 2018 | — | 13.4 | 94 | 18 | 6.00 | 5.88 | 6.25 | — |
| 19 Sep 2017 | 1 | OAT | 3y | 3.00 | 20 Sep 2020 | 6.00 | 4.9 | 100 | 6 | — | — | 7.35 | 96.46 |
| 19 Sep 2017 | 2 | OAT | 5y | 5.00 | 20 Sep 2022 | 6.25 | 9.0 | 100 | 4 | — | — | 7.40 | 95.30 |
| 19 Sep 2017 | 3 | OAT | 7y | 7.01 | 20 Sep 2024 | 6.50 | 2.4 | 100 | 2 | — | — | 7.31 | 95.89 |
| 8 Aug 2017 | 1 | OAT | 7y | 7.01 | 9 Aug 2024 | 7.00 | 181.1 | 99 | 68 | — | — | 7.04 | 99.82 |
| 17 Jul 2017 | 1 | BAT | 3m | 0.25 | 16 Oct 2017 | — | 27.5 | 73 | 25 | 6.00 | 5.90 | 5.99 | — |
| 4 Jul 2017 | 1 | OAT | 3y | 3.00 | 5 Jul 2020 | 6.00 | 0.0 | 0 | 6 | — | — | — | — |
| 4 Jul 2017 | 2 | OAT | 5y | 5.00 | 5 Jul 2022 | 6.50 | 8.7 | 90 | 28 | — | — | 7.10 | 97.73 |
| 30 May 2017 | 1 | BAT | 12m | 0.99 | 29 May 2018 | — | 9.6 | 100 | 6 | 6.50 | 6.42 | 6.86 | — |
| 30 May 2017 | 2 | OAT | 3y | 3.00 | 31 May 2020 | 6.00 | 0.0 | 0 | 9 | — | — | — | — |
| 30 May 2017 | 3 | OAT | 11y | 11.01 | 31 May 2028 | 6.90 | 44.3 | 97 | 10 | — | — | 7.29 | 97.59 |
| 22 May 2017 | 1 | BAT | 3m | 0.25 | 21 Aug 2017 | — | 0.0 | 0 | 3 | — | — | — | — |
| 22 May 2017 | 2 | BAT | 6m | 0.50 | 20 Nov 2017 | — | 18.0 | 100 | 8 | 6.50 | 6.40 | 6.62 | — |
| 22 May 2017 | 3 | OAT | 3y | 2.92 | 21 Apr 2020 | 6.00 | 0.0 | 0 | 7 | — | — | — | — |
| 20 Apr 2017 | 1 | BAT | 6m | 0.50 | 19 Oct 2017 | — | 5.2 | 100 | 7 | 6.50 | 5.91 | 6.09 | — |
| 20 Apr 2017 | 2 | OAT | 3y | 3.00 | 21 Apr 2020 | 6.00 | 7.5 | 100 | 10 | — | — | 7.57 | 95.91 |
| 8 Feb 2017 | 1 | OAT | 3y | 3.00 | 9 Feb 2020 | 6.00 | 10.1 | 82 | 29 | — | — | 6.95 | 97.52 |
| 5 Jan 2017 | 1 | BAT | 6m | 0.50 | 6 Jul 2017 | — | 22.0 | 88 | 23 | 6.50 | 5.91 | 6.09 | — |
| 5 Jan 2017 | 2 | OAT | 3y | 3.00 | 6 Jan 2020 | 5.50 | 0.0 | — | 0 | — | — | — | — |

**2016: 10 auctions, XOF 305bn raised**

Auctions in 2016

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [15 Dec 2016](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-15-12-2016/>) | 16 Dec 2016 | OAT | 5y 7.21 | 30.0 | 34.5 | 33.0 | 115 | 9,500.10 | 7.21 | 7.21 | 34 |
| [20 Oct 2016](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-20-10-2016/>) | 21 Oct 2016 | OAT | 7y 7.31 | 30.0 | 37.0 | 33.0 | 123 | 9,500.00 | 7.31 | 7.31 | 33 |
| [29 Sep 2016](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-29-09-2016/>) | 30 Sep 2016 | BAT | 2y 6.43 | 35.0 | 35.4 | 35.0 | 101 | 6.26 | 6.43 | 6.43 | 28 |
| [14 Jul 2016](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-14-07-2016/>) | 15 Jul 2016 | OAT | 7y 6.44 | 30.0 | 65.6 | 33.0 | 219 | 10,000.00 | 6.44 | 6.44 | 48 |
| [25 May 2016](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-25-05-2016/>) | 26 May 2016 | BAT | 2y 6.52 | 20.0 | 30.0 | 22.0 | 150 | 5.95 | 6.52 | 6.52 | 18 |
| [25 Apr 2016](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-25-04-2016/>) | 26 Apr 2016 | OAT | 3y 6.03 | 30.0 | 27.7 | 27.7 | 92 | 9,500.00 | 6.03 | 6.03 | 38 |
| [30 Mar 2016](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-30-03-2016/>) | 31 Mar 2016 | BAT | 2y 6.42 | 35.0 | 39.1 | 38.5 | 112 | 6.00 | 6.42 | 6.42 | 32 |
| [16 Mar 2016](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-16-03-2016/>) | 17 Mar 2016 | BAT | 6m 5.54 | 25.0 | 23.1 | 20.1 | 93 | 5.85 | 5.54 | 5.54 | 36 |
| [4 Feb 2016](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-04-02-2016/>) | 5 Feb 2016 | OAT | 5y 6.13 | 30.0 | 91.5 | 33.0 | 305 | 10,001.00 | 6.13 | 6.13 | 84 |
| [13 Jan 2016](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-13-01-2016/>) | 14 Jan 2016 | BAT | 12m 5.37 | 30.0 | 30.1 | 30.0 | 100 | 6.00 | 5.37 | 5.37 | 30 |

**Tranche detail (10)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 15 Dec 2016 | 1 | OAT | 5y | 4.14 | 5 Feb 2021 | 6.25 | 33.0 | 96 | 34 | — | — | 7.21 | 97.00 |
| 20 Oct 2016 | 1 | OAT | 7y | 6.73 | 15 Jul 2023 | 6.50 | 33.0 | 89 | 33 | — | — | 7.31 | 96.54 |
| 29 Sep 2016 | 1 | BAT | 2y | 1.99 | 27 Sep 2018 | — | 35.0 | 99 | 28 | 6.26 | 5.69 | 6.43 | — |
| 14 Jul 2016 | 1 | OAT | 7y | 7.00 | 15 Jul 2023 | 6.50 | 33.0 | 50 | 48 | — | — | 6.44 | 100.25 |
| 25 May 2016 | 1 | BAT | 2y | 1.99 | 23 May 2018 | — | 22.0 | 73 | 18 | 5.95 | 5.76 | 6.52 | — |
| 25 Apr 2016 | 1 | OAT | 3y | 3.00 | 26 Apr 2019 | 5.50 | 27.7 | 100 | 38 | — | — | 6.03 | 98.59 |
| 30 Mar 2016 | 1 | BAT | 2y | 1.99 | 28 Mar 2018 | — | 38.5 | 99 | 32 | 6.00 | 5.68 | 6.42 | — |
| 16 Mar 2016 | 1 | BAT | 6m | 0.50 | 14 Sep 2016 | — | 20.1 | 87 | 36 | 5.85 | 5.39 | 5.54 | — |
| 4 Feb 2016 | 1 | OAT | 5y | 5.01 | 5 Feb 2021 | 6.25 | 33.0 | 36 | 84 | — | — | 6.13 | 100.43 |
| 13 Jan 2016 | 1 | BAT | 12m | 0.99 | 11 Jan 2017 | — | 30.0 | 100 | 30 | 6.00 | 5.10 | 5.37 | — |

**2015: 10 auctions, XOF 315bn raised**

Auctions in 2015

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [3 Dec 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-03-12-2015/>) | 4 Dec 2015 | BAT | 2y 5.71 | 30.0 | 30.5 | 30.0 | 102 | 5.85 | 5.71 | 5.71 | 24 |
| [19 Nov 2015](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-19-11-2015/>) | 20 Nov 2015 | OAT | 5y 5.87 | 30.0 | 80.9 | 30.0 | 270 | 10,109.00 | 5.87 | 5.87 | 63 |
| [8 Oct 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-08-10-2015/>) | 9 Oct 2015 | BAT | 12m 4.85 | 30.0 | 42.7 | 33.0 | 142 | 4.95 | 4.85 | 4.85 | 34 |
| [23 Jul 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-23-07-2015/>) | 24 Jul 2015 | BAT | 2y 5.35 | 30.0 | 43.6 | 33.0 | 146 | 5.20 | 5.35 | 5.35 | 33 |
| [9 Jul 2015](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-09-07-2015/>) | 10 Jul 2015 | OAT | 5y 6.15 | 30.0 | 115.7 | 33.0 | 386 | 10,100.00 | 6.15 | 6.15 | 101 |
| [8 Apr 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-08-04-2015/>) | 9 Apr 2015 | BAT | 12m 5.71 | 30.0 | 57.7 | 33.0 | 192 | 5.50 | 5.71 | 5.71 | 53 |
| [3 Mar 2015](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-03-03-2015/>) | 4 Mar 2015 | OAT | 5y 6.80 | 30.0 | 47.7 | 30.0 | 159 | 9,857.00 | 6.80 | 6.80 | 34 |
| [11 Feb 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-11-02-2015/>) | 12 Feb 2015 | BAT | 12m 5.98 | 30.0 | 34.6 | 30.0 | 115 | 5.85 | 5.98 | 5.98 | 24 |
| [29 Jan 2015](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-29-01-2015/>) | 30 Jan 2015 | OAT | 3y 6.12 | 30.0 | 32.0 | 30.0 | 107 | 9,700.00 | 6.12 | 6.12 | 28 |
| [14 Jan 2015](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-14-01-2015/>) | 15 Jan 2015 | BAT | 6m 5.51 | 30.0 | 40.8 | 33.0 | 136 | 5.80 | 5.51 | 5.51 | 31 |

**Tranche detail (10)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3 Dec 2015 | 1 | BAT | 2y | 1.99 | 30 Nov 2017 | — | 30.0 | 98 | 24 | 5.85 | 5.12 | 5.71 | — |
| 19 Nov 2015 | 1 | OAT | 5y | 5.01 | 20 Nov 2020 | 6.25 | 30.0 | 37 | 63 | — | — | 5.87 | 101.13 |
| 8 Oct 2015 | 1 | BAT | 12m | 0.99 | 6 Oct 2016 | — | 33.0 | 77 | 34 | 4.95 | 4.63 | 4.85 | — |
| 23 Jul 2015 | 1 | BAT | 2y | 1.99 | 20 Jul 2017 | — | 33.0 | 76 | 33 | 5.20 | 4.83 | 5.35 | — |
| 9 Jul 2015 | 1 | OAT | 5y | 5.01 | 10 Jul 2020 | 6.50 | 33.0 | 29 | 101 | — | — | 6.15 | 101.03 |
| 8 Apr 2015 | 1 | BAT | 12m | 0.99 | 6 Apr 2016 | — | 33.0 | 57 | 53 | 5.50 | 5.40 | 5.71 | — |
| 3 Mar 2015 | 1 | OAT | 5y | 5.01 | 4 Mar 2020 | 6.50 | 30.0 | 63 | 34 | — | — | 6.80 | 99.09 |
| 11 Feb 2015 | 1 | BAT | 12m | 0.99 | 10 Feb 2016 | — | 30.0 | 87 | 24 | 5.85 | 5.64 | 5.98 | — |
| 29 Jan 2015 | 1 | OAT | 3y | 3.00 | 30 Jan 2018 | 5.50 | 30.0 | 94 | 28 | — | — | 6.12 | 98.34 |
| 14 Jan 2015 | 1 | BAT | 6m | 0.50 | 15 Jul 2015 | — | 33.0 | 81 | 31 | 5.80 | 5.36 | 5.51 | — |

**2014: 8 auctions, XOF 248bn raised**

Auctions in 2014

| Date | Value date | Securities | Tenors: weighted average yield (%) | Sought (XOF bn) | Bids (XOF bn) | Raised (XOF bn) | Cover (%) | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Bids |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [10 Dec 2014](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-10-12-2014/>) | 11 Dec 2014 | BAT | 12m 6.00 | 25.0 | 25.4 | 25.0 | 102 | 5.95 | 6.00 | 6.00 | 21 |
| [13 Nov 2014](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-13-11-2014/>) | 14 Nov 2014 | OAT | 5y 6.83 | 41.0 | 39.2 | 39.2 | 96 | 9,500.00 | 6.83 | 6.83 | 37 |
| [13 Oct 2014](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-13-10-2014/>) | 14 Oct 2014 | BAT | 12m 5.70 | 25.0 | 25.3 | 25.0 | 101 | 5.90 | 5.70 | 5.70 | 20 |
| [4 Sep 2014](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-04-09-2014/>) | 5 Sep 2014 | OAT | 5y 6.85 | 30.0 | 50.0 | 40.0 | 167 | 9,780.00 | 6.85 | 6.85 | — |
| [17 Jul 2014](<https://www.umoatitres.org/en/emission/obligations-assimilables-du-tresor-du-togo-du-17-07-2014/>) | 18 Jul 2014 | OAT | 5y 7.00 | 35.0 | 40.3 | 38.0 | 115 | 9,700.00 | 7.00 | 7.00 | 28 |
| [20 May 2014](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-20-05-2014/>) | 21 May 2014 | BAT | 9m 4.98 | 25.0 | 36.5 | 35.0 | 146 | 5.30 | 4.98 | 4.98 | 32 |
| [17 Apr 2014](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-17-04-2014/>) | 18 Apr 2014 | BAT | 12m 5.22 | 30.0 | 20.6 | 20.6 | 69 | 6.00 | 5.22 | 5.22 | 29 |
| [16 Jan 2014](<https://www.umoatitres.org/en/emission/bons-assimilables-du-tresor-du-togo-du-16-01-2014/>) | 17 Jan 2014 | BAT | 12m 4.91 | 25.0 | 31.5 | 25.0 | 126 | 4.90 | 4.91 | 4.91 | 25 |

**Tranche detail (8)**

One row per tranche; prices in % of face value. Published tenor: original PDF tenor where identified, otherwise the source-page label. Remaining life: settlement to maturity.

| Date | No. | Security | Published tenor | Remaining life (years) | Maturity | Coupon (%) | Raised (XOF bn) | Absorption (%) | Bids | Marginal rate (%) | Weighted avg rate (%) | Weighted avg yield (%) | Weighted avg price (%) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 10 Dec 2014 | 1 | BAT | 12m | 0.99 | 9 Dec 2015 | — | 25.0 | 98 | 21 | 5.95 | 5.65 | 6.00 | — |
| 13 Nov 2014 | 1 | OAT | 5y | 5.00 | 14 Nov 2019 | 6.25 | 39.2 | 100 | 37 | — | — | 6.83 | 98.24 |
| 13 Oct 2014 | 1 | BAT | 12m | 0.99 | 12 Oct 2015 | — | 25.0 | 99 | 20 | 5.90 | 5.39 | 5.70 | — |
| 4 Sep 2014 | 1 | OAT | 5y | 5.00 | 5 Sep 2019 | 6.50 | 40.0 | 80 | — | — | — | 6.85 | 98.94 |
| 17 Jul 2014 | 1 | OAT | 5y | 5.00 | 18 Jul 2019 | 6.50 | 38.0 | 94 | 28 | — | — | 7.00 | 98.50 |
| 20 May 2014 | 1 | BAT | 9m | 0.75 | 17 Feb 2015 | — | 35.0 | 96 | 32 | 5.30 | 4.80 | 4.98 | — |
| 17 Apr 2014 | 1 | BAT | 12m | 0.99 | 16 Apr 2015 | — | 20.6 | 100 | 29 | 6.00 | 4.96 | 5.22 | — |
| 16 Jan 2014 | 1 | BAT | 12m | 0.99 | 15 Jan 2015 | — | 25.0 | 79 | 25 | 4.90 | 4.68 | 4.91 | — |

Amounts in XOF bn, converted from the published millions. Cover: total bids over the amount put up for auction. Yields: weighted average per tranche, as published; in italics, the average of the tranches weighted by amounts raised (brvmdata calculation) where UMOA-Titres publishes no overall figure.

Value dates are reconciled with official PDFs where available. † marks a source correction or inconsistency. Without consistent dates, remaining life is withheld and the tranche is excluded from tenor curves.

Stand-alone buybacks and exchanges are excluded (their negative amounts would distort issuance); combined issue-and-buyback operations are kept, with the issued amounts only.

 

## Secondary market

[Chart: Nominal volume traded by quarter (XOF bn)]

Nominal volume traded by quarter (XOF bn)

The latest 40 trades — Trades in the State's securities, 25 May 2021 – 6 Nov 2026

| ISIN | Security | Date | Maturity | Coupon (%) | Price (%) | Yield (%) | Nominal volume (XOF m) | Trades |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TG0000001809 | OAT | 6 Nov 2026 | 19 Apr 2029 | 5.80 | 98.63 | 6.40 | 641 | 1 |
| TG0000001759 | OAT | 6 Nov 2026 | 7 Feb 2032 | 5.90 | 95.22 | 7.01 | 398 | 1 |
| TG0000001544 | OAT | 5 Nov 2026 | 19 Apr 2031 | 6.25 | 99.60 | 6.34 | 9,960 | 2 |
| TG0000001999 | OAT | 4 Nov 2026 | 13 Feb 2028 | 5.70 | 99.50 | 6.09 | 736 | 1 |
| TG0000001619 | OAT | 4 Nov 2026 | 14 Jun 2028 | 5.98 | 99.60 | 6.22 | 996 | 1 |
| TG0000003524 | OAT | 3 Nov 2026 | 15 Jun 2031 | 6.35 | 99.47 | 6.48 | 378 | 1 |
| TG0000003391 | OAT | 3 Nov 2026 | 7 Apr 2031 | 6.35 | 99.47 | 6.48 | 829 | 1 |
| TG0000002203 | OAT | 3 Nov 2026 | 30 Jun 2028 | 6.25 | 99.94 | 6.26 | 100 | 1 |
| TG0000001569 | OAT | 3 Nov 2026 | 19 Apr 2028 | 6.15 | 99.94 | 6.16 | 150 | 1 |
| TG0000001544 | OAT | 3 Nov 2026 | 19 Apr 2031 | 6.25 | 99.47 | 6.38 | 466 | 1 |
| TG0000001502 | OAT | 3 Nov 2026 | 25 Jan 2028 | 6.50 | 101.00 | 5.61 | 1,515 | 1 |
| TG0000003557 | OAT | 2 Nov 2026 | 27 Jul 2031 | 6.35 | 98.55 | 6.71 | 4,435 | 3 |
| TG0000001999 | OAT | 2 Nov 2026 | 13 Feb 2028 | 5.70 | 100.00 | 5.67 | 740 | 1 |
| TG0000001619 | OAT | 2 Nov 2026 | 14 Jun 2028 | 5.98 | 100.00 | 5.95 | 1,000 | 1 |
| TG0000003557 | OAT | 30 Oct 2026 | 27 Jul 2031 | 6.35 | 98.66 | 6.68 | 4,440 | 3 |
| TG0000001502 | OAT | 30 Oct 2026 | 25 Jan 2028 | 6.50 | 100.45 | 6.08 | 3,014 | 2 |
| TG0000001759 | OAT | 21 Oct 2026 | 7 Feb 2032 | 5.90 | 95.22 | 7.00 | 2,078 | 1 |
| TG0000003557 | OAT | 13 Oct 2026 | 27 Jul 2031 | 6.35 | 99.15 | 6.56 | 17,847 | 5 |
| TG0000003078 | OAT | 13 Oct 2026 | 24 Mar 2028 | 6.25 | 99.20 | 6.81 | 516 | 3 |
| TG0000002146 | OAT | 13 Oct 2026 | 22 May 2028 | 6.25 | 99.17 | 6.78 | 446 | 3 |
| TG0000003490 | OAT | 9 Oct 2026 | 1 Jun 2031 | 6.35 | 100.00 | 6.34 | 1,560 | 1 |
| TG0000001593 | OAT | 9 Oct 2026 | 25 May 2028 | 6.00 | 100.00 | 5.97 | 440 | 1 |
| TG0000003300 | OAT | 7 Oct 2026 | 9 Mar 2031 | 6.35 | 98.05 | 6.86 | 489 | 1 |
| TG0000003342 | OAT | 5 Oct 2026 | 23 Mar 2031 | 6.35 | 98.66 | 6.69 | 9,866 | 4 |
| TG0000003300 | OAT | 5 Oct 2026 | 9 Mar 2031 | 6.35 | 98.57 | 6.72 | 11,334 | 5 |
| TG0000001999 | OAT | 10 Sep 2026 | 13 Feb 2028 | 5.70 | 99.95 | 5.71 | 740 | 1 |
| TG0000001619 | OAT | 10 Sep 2026 | 14 Jun 2028 | 5.98 | 99.95 | 5.99 | 1,000 | 1 |
| TG0000003557 | OAT | 8 Sep 2026 | 27 Jul 2031 | 6.35 | 98.86 | 6.63 | 8,897 | 3 |
| TG0000003391 | OAT | 7 Sep 2026 | 7 Apr 2031 | 6.35 | 98.25 | 6.80 | 204 | 2 |
| TG0000003391 | OAT | 21 Aug 2026 | 7 Apr 2031 | 6.35 | 99.25 | 6.53 | 496 | 1 |
| TG0000003391 | OAT | 20 Aug 2026 | 7 Apr 2031 | 6.35 | 96.57 | 7.23 | 483 | 1 |
| TG0000003532 | OAT | 19 Aug 2026 | 15 Jun 2033 | 6.50 | 97.76 | 6.92 | 978 | 2 |
| TG0000003557 | OAT | 11 Aug 2026 | 27 Jul 2031 | 6.35 | 97.49 | 6.96 | 2,437 | 1 |
| TG0000003557 | OAT | 10 Aug 2026 | 27 Jul 2031 | 6.35 | 97.51 | 6.96 | 3,900 | 1 |
| TG0000003391 | OAT | 28 Jul 2026 | 7 Apr 2031 | 6.35 | 97.27 | 7.04 | 3,891 | 2 |
| TG0000003532 | OAT | 27 Jul 2026 | 15 Jun 2033 | 6.50 | 97.03 | 7.06 | 485 | 1 |
| TG0000002997 | OAT | 20 Jul 2026 | 13 Jan 2028 | 6.25 | 100.00 | 6.22 | 500 | 1 |
| TG0000002062 | OAT | 20 Jul 2026 | 27 Mar 2028 | 6.00 | 100.00 | 5.98 | 430 | 1 |
| TG0000003532 | OAT | 16 Jul 2026 | 15 Jun 2033 | 6.50 | 97.00 | 7.06 | 970 | 1 |
| TG0000003532 | OAT | 14 Jul 2026 | 15 Jun 2033 | 6.50 | 97.58 | 6.95 | 4,879 | 2 |

UMOA-Titres's weekly reports (PDF) are authoritative. For days no report covers yet, rows come from the daily sheet UMOA-Titres publishes, with the yield recomputed from the exact price (median gap about 1 bp on bonds, 4 bp on bills).

[Secondary market](<https://brvmdata.com/en/souverains/secondaire/>) →

 

## Debt-office publications

21 documents published by Direction Générale du Trésor et de la Comptabilité Publique (DGTCP)

| Published | Type | Document | Period |
| --- | --- | --- | --- |
| 21 Sep 2026 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN JUIN 2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/09/BULLETIN-STATISTIQUE-DE-FIN-JUIN-2026-avec-COUT-RISQUES-FINAL-nv.pdf>) | 2026-Q2 |
| 10 Jul 2026 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN MARS 2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/07/BULLETIN-STATISTIQUE-DE-FIN-MARS-2026-avec-COUT-RISQUES-FINAL.pdf>) | 2026-Q1 |
| 4 May 2026 | Other | [ARRETE PORTANT ORGANISATION DE REUNIONS PERIODIQUES AVEC LES SVT ET PUBLICATION DE L’EVALUATION DE LEURS PERFORMANCES](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/Arrete-N%C2%B0183_MFB_SG_DGTCP_DELFIC_2026-portant-organisation-de-reunions-periodiques-avec-les-SVT-et-publication-de-levaluation-de-leurs-performances.pdf>) | — |
| 4 Apr 2026 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN DECEMBRE 2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/BULLETIN-STATISTIQUE-DE-FIN-DECEMBRE-2025-avec-COUT-RISQUES-FINAL.pdf>) | 2025-Q4 |
| 4 Apr 2026 | Debt statistics | [RAPPORT ANALYTIQUE DE LA DETTE PUBLIQUE DU TOGO – DECEMBRE 2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/RAPPORT-ANALYTIQUE-DE-LA-DETTE-PUBLIQUE-DU-TOGO.pdf>) | 2025 |
| 4 Apr 2026 | Borrowing strategy | [STRATEGIE D’ENDETTEMENT 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/STRATEGIE-DENDETTEMENT-2024-2026-actualise-Gestion-2026.pdf>) | 2024-2026 |
| 30 Dec 2025 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN SEPTEMBRE 2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/01/BULLETIN-STATISTIQUE-DE-FIN-SEPTEMBRE-2025-avec-COUT-RISQUES-FINAL.pdf>) | 2025-Q3 |
| 7 Sep 2025 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN JUIN 2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/01/BULLETIN-STATISTIQUE-DE-FIN-JUIN-2025-avec-COUT-RISQUES-FINAL1-1-11.pdf>) | 2025-Q2 |
| 4 Aug 2025 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN MARS 2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/08/BULLETIN-STATISTIQUE-DE-FIN-MARS-2025-avec-COUT-RISQUES.pdf>) | 2025-Q1 |
| 15 May 2025 | Other | [DÉCLARATION DE LA CONFÉRENCE DE L’UNION AFRICAINE SUR LA DETTE](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/DECLARATION-DE-LOME-SUR-LA-DETTE-VF.pdf>) | — |
| 12 May 2025 | Borrowing strategy | [STRATEGIE D’ENDETTEMENT A MOYEN TERME 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/STRATEGIE-2024-2026-ACTUALISEE.pdf>) | 2024-2026 |
| 12 May 2025 | Debt statistics | [RAPPORT-ANALYTIQUE-DE-LA-DETTE-PUBLIQUE-DU-TOGO-AU-31-12-2024-final](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/RAPPORT-ANALYTIQUE-DE-LA-DETTE-PUBLIQUE-DU-TOGO-AU-31-12-2024-final.pdf>) | 2024 |
| 12 Apr 2025 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN DECEMBRE 2024](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/BULLETIN-STATISTIQUE-DE-FIN-DEC-2024-avec-COUT-RISQUES-FINAL.pdf>) | 2024-Q4 |
| 24 Jan 2025 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN JUIN 2024](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/01/BULLETIN-STATISTIQUE-DE-FIN-JUIN-2024-avec-COUT-RISQUES30.08.24-FIN.pdf>) | 2024-Q2 |
| 24 Jan 2025 | Borrowing strategy | [STRATEGIE D’ENDETTEMENT A MOYEN TERME 2023-2025](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/01/STRATEGIE-DENDETTEMENT-A-MOYEN-TERME-2023-2025-Cibles-1.pdf>) | 2023-2025 |

**Older documents (6)**

Direction Générale du Trésor et de la Comptabilité Publique (DGTCP)

| Published | Type | Document | Period |
| --- | --- | --- | --- |
| 24 Jan 2025 | Debt statistics | [RAPPORT-ANALYTIQUE-DE-LA-DETTE-PUBLIQUE-DU-TOGO-AU-31-12-2023](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/01/RAPPORT-ANALYTIQUE-DE-LA-DETTE-PUBLIQUE-DU-TOGO-AU-31-12-2023.pdf>) | 2023 |
| 8 Aug 2024 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN MARS 2024](<https://tresorpublic.gouv.tg/wp-content/uploads/2024/08/BULLETIN-STATISTIQUE-DE-FIN-MARS-2024-avec-COUT-RISQUS-final2024-corrige-1.pdf>) | 2024-Q1 |
| 15 May 2024 | Debt bulletin | [BULLETIN-STATISTIQUE DE FIN DECEMBRE 2023](<https://tresorpublic.gouv.tg/wp-content/uploads/2024/05/BULLETIN-STATISTIQUE-DE-FIN-DECEMBRE-2023-avec-COUT-RISQUS-final.pdf>) | 2023-Q4 |
| 1 Mar 2024 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN SEPTEMBRE 2023 avec COUT &amp; RISQUES](<https://tresorpublic.gouv.tg/wp-content/uploads/2024/03/BULLETIN-STATISTIQUE-DE-FIN-SEPTEMBRE-2023-avec-COUT-RISQUS-final.pdf>) | 2023-Q3 |
| 1 Mar 2024 | Debt bulletin | [BULLETIN STATISTIQUE DE FIN MARS 2023 avec COUT &amp; RISQUES](<https://tresorpublic.gouv.tg/wp-content/uploads/2024/03/BULLETIN-STATISTIQUE-DE-FIN-MARS-2023-avec-COUT-RISQUS-version-finale-.pdf>) | 2023-Q1 |
| 24 Jul 2019 | Other | [Lois des Finances 2019](<https://tresorpublic.gouv.tg/wp-content/uploads/2019/07/LFI-2019-compress%C3%A9.pdf>) | 2019 |

### Planned securities issuance

Amounts planned in the financing plans (XOF bn) and amounts raised at auction in the same year

| Period | Security | Planned (XOF bn) | Auctioned (XOF bn) | Source |
| --- | --- | --- | --- | --- |
| 2026 | BAT | 148.5 | 18.5 | [STRATEGIE D’ENDETTEMENT 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/STRATEGIE-DENDETTEMENT-2024-2026-actualise-Gestion-2026.pdf>) |
| 2026 | OAT | 215.0 | 330.0 | [STRATEGIE D’ENDETTEMENT 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/STRATEGIE-DENDETTEMENT-2024-2026-actualise-Gestion-2026.pdf>) |
| 2026 | Total | 463.5 | 348.5 | [STRATEGIE D’ENDETTEMENT 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2026/05/STRATEGIE-DENDETTEMENT-2024-2026-actualise-Gestion-2026.pdf>) |
| 2025 | BAT | 109.8 | 237.7 | [STRATEGIE D’ENDETTEMENT A MOYEN TERME 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/STRATEGIE-2024-2026-ACTUALISEE.pdf>) |
| 2025 | OAT | 122.5 | 174.7 | [STRATEGIE D’ENDETTEMENT A MOYEN TERME 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/STRATEGIE-2024-2026-ACTUALISEE.pdf>) |
| 2025 | Total | 332.3 | 412.3 | [STRATEGIE D’ENDETTEMENT A MOYEN TERME 2024-2026](<https://tresorpublic.gouv.tg/wp-content/uploads/2025/05/STRATEGIE-2024-2026-ACTUALISEE.pdf>) |

[Direction Générale du Trésor et de la Comptabilité Publique (DGTCP)](<https://tresorpublic.gouv.tg/documentation/>)

Amounts as extracted from the published plan (see the document). 'Auctioned' counts only the UMOA-Titres auctions of the year (to 6 Nov 2026 for the current year); syndicated and public offerings are not included. 3-, 6- and 12-month bills roll over within the year: gross auctioned amounts can exceed a need planned net, so the two columns do not measure an achievement rate.

 

## BCEAO refinancing of the State's banks

[Chart: Amount allotted to credit institutions based in the State at the weekly liquidity-injection tenders (XOF bn)]

Amount allotted to credit institutions based in the State at the weekly liquidity-injection tenders (XOF bn)

Latest BCEAO tenders

| Date | Tender | Type | Bids (XOF bn) | Raised (XOF bn) | WAEMU share (%) |
| --- | --- | --- | --- | --- | --- |
| [2 Nov 2026](<https://www.bceao.int/sites/default/files/2026-11/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B044H%202026.pdf>) | 44/H/2026 | weekly | 350.1 | 346.1 | 5.5 |
| [26 Oct 2026](<https://www.bceao.int/sites/default/files/2026-10/Resultats%20-%20Adjudication%20n%C2%B043H2026%20-%2011M2026%20et%2011OdR2026%20du%2026%20octobre%202026.pdf>) | 43/H/2026 | weekly | 335.1 | 331.1 | 5.3 |
| [26 Oct 2026](<https://www.bceao.int/sites/default/files/2026-10/Resultats%20-%20Adjudication%20n%C2%B043H2026%20-%2011M2026%20et%2011OdR2026%20du%2026%20octobre%202026.pdf>) | 11/OdR/2026 | refinancing operation | 22.5 | 10.8 | 43.1 |
| [26 Oct 2026](<https://www.bceao.int/sites/default/files/2026-10/Resultats%20-%20Adjudication%20n%C2%B043H2026%20-%2011M2026%20et%2011OdR2026%20du%2026%20octobre%202026.pdf>) | 11/M/2026 | monthly | 10.6 | 10.6 | 10.9 |
| [12 Oct 2026](<https://www.bceao.int/sites/default/files/2026-10/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B041H%202026.pdf>) | 41/H/2026 | weekly | 335.1 | 331.1 | 5.2 |
| [5 Oct 2026](<https://www.bceao.int/sites/default/files/2026-10/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B040H%202026.pdf>) | 40/H/2026 | weekly | 335.1 | 331.1 | 5.2 |
| [28 Sep 2026](<https://www.bceao.int/sites/default/files/2026-09/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B039H%202026.pdf>) | 39/H/2026 | weekly | 340.1 | 336.1 | 5.2 |
| [28 Sep 2026](<https://www.bceao.int/sites/default/files/2026-09/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B010OdR%202026.pdf>) | 10/OdR/2026 | refinancing operation | 26.1 | 11.7 | 46.7 |
| [28 Sep 2026](<https://www.bceao.int/sites/default/files/2026-09/R%C3%A9sultat%20global_appel%20d%27offres%20n%C2%B010M%202026.pdf>) | 10/M/2026 | monthly | 10.6 | 10.6 | 10.9 |

These amounts go to banks based in the State, not to the Treasury. Tender details on the [rates](<https://brvmdata.com/en/taux/>) page.

---

[Canonical page](<https://brvmdata.com/en/souverains/togo/>)

Data as of 6 November 2026.

Chart data: [Source tables](<https://brvmdata.com/en/donnees/#telechargements>).

## Sources for this page

- [UMOA-Titres — adjudications](<https://www.umoatitres.org/fr/>)
- [UMOA-Titres, live securities list as of 31 Oct 2026 (PDF)](<https://www.umoatitres.org/wp-content/uploads/2026/11/UT-LTV-31.10.2026.pdf>)
- [Direction Générale du Trésor et de la Comptabilité Publique (DGTCP)](<https://tresorpublic.gouv.tg/documentation/>)
