Citigroup Prices Senegal's Debt Rewrite At Half Its Face Value
Lazard now advises Dakar on the rework, while Senegal's dollar bonds already trade between 52 and 58 cents.
- Citigroup analysts estimate bondholders may recover up to 50% of the debt's face value.
- Senegal appointed Lazard as financial adviser to negotiate the restructuring with creditors.
- Senegal's dollar bonds are already trading between 52 and 58 cents on the dollar.
Why it matters: Fifty cents on the dollar is the going rate for a sovereign borrower's broken promise.
Bloomberg (citing Citigroup analysts) ↗ · Jul 16, 20267/16/26