Senegal Initiates Transfer for 2048 Dollar Bond Coupon Payment Amid IMF Loan Deal

Senegal has initiated the transfer for a coupon payment on its 2048 U.S. dollar bond, which is due on September 13.

The news led to an increase in Senegal's international bonds, with the 2048 maturity adding 2.5 cents to bid at 51.47 cents on the dollar, according to Tradeweb data.

The International Monetary Fund and Senegal reached a staff-level agreement for a $2.2 billion three-year loan package this week.

Alioune Diouf, head of the capital markets department in the economy ministry, stated that 'under this agreement, you haven't heard the authorities mention any debt service suspensions... We will do our utmost to fulfill our commitments.'