Search

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

Allen dreyfus Logo
© Allen Dreyfus
  • 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.

You need an active subscription to continue reading this article.

Recent Business

edouard-tamba-bZnciM7XIYw-unsplash
Cameroon targets CFA 45bn capital outflow with new reinsurance reform bill
Read More »
Allen dreyfus Logo
IMF unlocks $32.8m for Burkina Faso as insecurity rattles mining sector
Read More »
yanick-folly-kWPNxQyAT6M-unsplash
Benin caps uptake in record bond auction to curb debt costs
Read More »

Recent Politics

Allen dreyfus Logo
Nigeria’s green bond oversubscribed as climate funding gains traction
Read More »
rupixen-nI--XptpMa8-unsplash
A Broken System, a Historic Chance: Inside the Fight to Rewrite Global Debt Rules
Read More »
Allen dreyfus Logo
Nigeria inflation slows again in May, raising rate cut prospects
Read More »

Latest Posts

Latest news insights