Senegal sells CFAF 44 billion in bonds despite debt concerns

• Treasury operation oversubscribed by 157% as investors back Dakar
• Yields edge higher but remain below regional peers like Mali

Dakar, Senegal – Senegal raised CFAF 44 billion (about USD 73 million) on the West African Economic and Monetary Union (WAEMU) market on May 16, surpassing its initial target of CFAF 40 billion. The sale, which included one, three, and five-year maturities, was oversubscribed by 157%, with weighted average yields ranging between 7.22% and 7.95%.