LONDON, March 6 (IFR) - The Republic of Senegal has opened books on euro and US dollar benchmark bonds, according to a lead.
Senegal is finishing investor meetings in Paris this morning but the sovereign and its lead banks decided to accelerate the deal.
The sovereign is marketing the euro tranche due March 2028 at a yield of 5.125%-5.25%. The amortising notes have a nine-year weighted average life.
The US dollar notes due 2048 have opened at 7.125%-7.25%. The notes have a 29-year weighted average life.
Senegal is rated Ba3 by Moody’s and B+ by S&P.
The bookrunners are BNP Paribas, Citigroup, Deutsche Bank, Natixis, Societe Generale and Standard Chartered.
Reporting by Robert Hogg; editing by Sudip Roy