Senegal’s 2031 Dollar Bond Sinks to 54 Cents as Political Crisis Fuels Default Fears
Updated
Updated · Bloomberg · Jun 3
Senegal’s 2031 Dollar Bond Sinks to 54 Cents as Political Crisis Fuels Default Fears
2 articles · Updated · Bloomberg · Jun 3
Summary
Senegal’s 2031 dollar bond traded around 54 cents on the dollar Tuesday, down from a mid-February peak of 68 cents as the country’s political crisis deepened.
That slide has turned Senegal from a top emerging-markets performer into one of the worst, with its three dollar notes all falling heavily.
Investors are now sitting on a 2.5% loss this year on Senegal’s dollar bonds, while a broader emerging-market dollar-bond index has gained 1.5%.
The widening gap underscores how political turmoil in Senegal is increasingly being priced as a credit risk, with default fears rising.