#Ad Hoc Group #White Case #Senegal #Dakar #Senegal Bonds

Formation of the Ad Hoc Group for Senegal Bondholders

On September 11, 2026, a diverse assembly of prominent institutional investors with long-term commitments to international bonds issued by Senegal announced the creation of an ad hoc group known as the "Ad Hoc Group." This initiative arises in the wake of Senegal's Ministry of Finance announcing plans to pursue a debt treatment strategy alongside an agreement with the International Monetary Fund (IMF) to launch a three-year, $2.2 billion Extended Credit Facility.

Purpose and Objectives of the Ad Hoc Group

The primary aim of this group is to represent the interests of international bondholders and to engage in constructive dialogues with Senegalese authorities. Recognizing the complexities involved in the debt treatment process, the Ad Hoc Group emphasizes the necessity for an equitable, economically justifiable, and sustainable approach. This approach should be founded on sound economic assumptions that account for necessary adjustment measures.

The Group is particularly attentive to the commitment expressed by Senegalese authorities to maintain an accelerated implementation schedule and enhance communication and consultation efforts with creditors. This transparency is deemed crucial for avoiding a prolonged negotiation process that could hinder effective debt management.

Collaborative Efforts for Success

For this debt treatment initiative to succeed, collaboration among all stakeholders—including bondholders—is essential. The Ad Hoc Group insists that authorities need to ensure a fair distribution of the financial burdens across Senegal's creditors, advocating adherence to best practices prevalent in international finance.

The Group also calls for maximum transparency throughout the process to foster trust among participants. The Ad Hoc Group believes that by following these principles, it can become a constructive partner to Senegalese officials in navigating the complexities associated with debt treatment.

Formation of a Steering Committee

As part of its organizational structure, the Ad Hoc Group is in the process of appointing a steering committee responsible for coordinating activities and communications. To facilitate its endeavors, the Group has engaged the legal services of White Case LLP, which will represent the Group throughout the emerging processes.

For bondholders looking to gain insights into the Ad Hoc Group's strategies or discuss current developments, White Case has provided contact information for further engagement. They urge any individuals interested in the group’s initiatives to reach out for more detailed discussions.

Conclusion

The formation of the Ad Hoc Group marks a significant step toward ensuring that the voices of international bondholders are heard in the forthcoming discussions surrounding Senegal's economic policies and debt treatments. The imminent collaboration between the Group and Senegalese authorities could potentially lead to a more sustainable financial framework that benefits all involved parties while promoting economic stability in Senegal.