A group representing holders of Senegal’s international sovereign bonds has chosen restructuring consultancy Alvarez & \u200bMarsal as their financial adviser for ongoing debt \u200ctreatment talks with the government, three sources with direct knowledge of the matter told Reuters.<\/p>\n
The West African nation announced plans to rework \u200bits debt last month in order to secure \u200ba $2.2 billion bailout loan from the International Monetary \u2060Fund.<\/p>\n
Pressure has been mounting on Senegal to take action \u200band return its debt to a sustainable trajectory since a \u200bmisreported debt revelation in 2024, with the liabilities later estimated by analysts at around $13 billion.<\/p>\n
Separately, three different sources with direct knowledge \u200bof the situation told Reuters that bondholders had sent \u200ba letter to the government warning that any requests for principal losses, \u200cknown \u2060as “haircuts”, could significantly delay negotiations.<\/p>\n
The letter, sent roughly 10 days ago in response to a government request that major creditor groups share their “red lines”, could complicate Senegal’s \u200bhopes for a quick \u200bdebt rework.<\/p>\n
The \u2060country told creditors during a call last week that it was targeting deals with official \u200bcreditors and bondholders by December.<\/p>\n
The bondholder group, whose \u200blegal \u2060representative is White & Case, holds bonds with $2.2 billion in face value out of $5.2 billion total outstanding bonds.<\/p>\n
White & Case and \u2060Alvarez & \u200bMarsal did not immediately respond to \u200ba request for comment on the letter.<\/p>\n","protected":false},"excerpt":{"rendered":"
A group representing holders of Senegal’s international sovereign bonds has chosen restructuring consultancy Alvarez & \u200bMarsal as their financial adviser for ongoing debt \u200ctreatment talks with the government, three sources with direct knowledge of the matter told Reuters. The West African nation announced plans to rework \u200bits debt last month in order to secure \u200ba […]<\/p>\n","protected":false},"author":6,"featured_media":17088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[5535,283],"class_list":["post-22290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-alvarez-marsal","tag-senegal"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22290"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22290\/revisions"}],"predecessor-version":[{"id":22291,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22290\/revisions\/22291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/17088"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}