Citigroup Sees Bondholders Recover 50% of Senegal’s Debt Under Revamp

Citigroup says holders of Senegal’s dollar bonds could recover less than 50% of face value in a restructuring, implying a substantial haircut versus current market trading levels. This raises downside credit risk for the issue and weighs on sentiment toward Senegal sovereign exposure.

Analysis

Citigroup says holders of Senegal’s dollar bonds could recover less than 50% of face value in a restructuring, implying a substantial haircut versus current market trading levels. This raises downside credit risk for the issue and weighs on sentiment toward Senegal sovereign exposure.