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Bond Market News
Senegal’s Bondholders Warned Regarding Potential Steep Restructuring Haircuts
July 17, 2026
– Amruth S
Senegal’s dollar bondholders could recover less than 50% of the face value of their notes in a potential debt restructuring, as per Citigroup. As per a Citi note, recovery rates could fall to between 43-50 cents on the dollar. This compares to Senegal’s dollar bonds which are currently trading just above 50 cents on the dollar. This comes amid reports that the government has appointed Lazard as its financial adviser. Analysts note that Senegal’s fiscal sustainability is threatened by debt levels reaching 130% of GDP and a suspended IMF program. They do however note that the country does not face immediate balance-of-payments pressures. Resolving these problems are key to unlocking IMF support.
Senegal’s 6.25% 2033s were trading weaker by 0.4 points at 52.9, yielding 18.7%.
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