J.P. Morgan Invests $300M in Senegal’s Oil-Driven Economic Transformation

• J.P. Morgan backs Senegal’s $750M note issuance as the country emerges as a new oil producer
• Senegal’s oil and gas potential poised to fuel GDP growth despite election-related uncertainties

Dakar, Senegal – J.P. Morgan has purchased $300 million in notes issued by Senegal, the world’s latest oil producer, in a transaction underscoring international confidence in the West African nation’s emerging hydrocarbon sector. In a statement issued Friday, the U.S. investment bank confirmed that the notes, part of Senegal’s $750 million 2031 bond, were secured with a yield of 7.75 percent and a reoffer yield of 9.699 percent. “J.P. Morgan acted as the sole initial purchaser and the sole book-runner for this private placement,” the bank said.