Ad Hoc Senegal Bondholder Group Formed to Engage in Debt Treatment Process
A group of major institutional holders of international bonds issued by Senegal has formed an ad hoc bondholder group to engage with the country's authorities. This follows announcements from the Ministry of Finance on September 1, 2026 regarding a debt treatment plan and a staff-level agreement with the IMF for a $2.2 billion Extended Credit Facility over three years. The Ad Hoc Group aims to ensure that any proposed debt restructuring is equitable, sustainable, and based on sound economic assumptions. It emphasizes transparency and collaboration between Senegal's government and creditors as essential steps in avoiding delays during the process. The group has retained White & Case LLP for legal representation and plans to establish a steering committee. The Ad Hoc Group supports an enhanced Common Framework approach but stresses that all stakeholders, including bondholders, must be fairly represented. It encourages authorities to maintain open communication with creditors as part of its commitment to transparency.
Topics: ad hoc group debt restructuring IMF agreement international bondholders