The Senegalese government has initiated its second major bond offering of the year, targeting CFA200 billion on the West African regional capital market to finance priority development projects and manage public debt.
Opening on September 17 and running through October 8, 2026, the debt issuance is divided into four tranches with maturities spanning three to 10 years and coupon rates ranging between 6.40 percent and 6.95 percent. Invictus Capital & Finance is serving as lead arranger alongside co-lead manager CGF Bourse to oversee the subscription process.
The capital raising follows a successful bond issue earlier in the year that generated CFA304.15 billion against an initial CFA200 billion target. The current fundraising efforts align with Senegal’s 2026 initial budget law, which projects overall state financing requirements at CFA6,075.2 billion alongside a target budget deficit of 5.37 percent of GDP. The bond sale comes amid ongoing fiscal restructuring as Senegalese authorities finalize a staff-level agreement with the International Monetary Fund for a 36-month, $2.2 billion Extended Credit Facility aimed at stabilizing macroeconomic indicators, improving tax collection, and restoring long-term debt sustainability.
TE/lb/abj/APA