Holders of Senegal’s sovereign bonds have organized an official creditor group and hired global law firm White & Case as legal counsel to navigate upcoming debt restructuring negotiations.
Four sources with direct knowledge of the matter said that the newly formed coalition includes at least eight major international fund managers representing substantial commercial exposure. (Reuters reported).
This creditor mobilization coincides with the International Monetary Fund recently approving a $2.2 billion funded program to support Dakar’s broad macroeconomic stabilization and structural reforms.
The intervention follows the discovery of undisclosed public liabilities that pushed national debt past 130% of GDP, triggering sweeping credit rating downgrades and debt rework plans.
Senegal’s debt overhaul explicitly targets international Eurobonds while insulating regional CFA franc debt, as commercial creditors organize to protect bondholder value amid expected distressed exchange terms.
