Senegal offers to exchange its existing notes due 2014 for new ones
April 22, 2011
On April 18, 2011 the Republic of Senegal offered to exchange all of its USD 200m outstanding bonds due in 2014 originally issued in 2009 for new notes. The offer expires on May 4, 2011. The exchange price is set at 104.5%, the difference between the echange price and the issue price of new notes will be cash-settled. The yield quidance will be released on May 4, and the new notes will be priced on May 6.
Standard Bank and Standard Chartered Bank are arranging the deal.
In March, Senegal obtained credit rating from Moody's.
Issue — Senegal, 8.750% 22dec2014, USD
Country of riskSenegal
Redemption (put/call option)
М/S&P/F— / — / —
Company — Senegal
Full nameThe Republic of Senegal