Senegal in $750 Million Offering

Cleary Gottlieb represented the Republic of Senegal (Senegal) in an international sovereign bond offering in an aggregate amount of $750 million, including $500 million 7.75% amortizing notes due 2031, which priced on June 3, 2024, and an additional tap issuance of $250 million 7.75% amortizing notes due 2031 (to be consolidated and form a single series with $500 million 7.75% amortizing notes due 2031), which priced on June 4, 2024.

The offerings were made through a private placement outside the U.S. in reliance on Regulation S only and closed on June 10, 2024. The notes have been admitted to trading on the International Securities Market of the London Stock Exchange.

Concurrently with the offerings, Senegal also entered into a series of EUR/USD cross-currency swaps in connection with its payment obligations under the notes.

The net proceeds of the transactions will be used for general budget purposes in accordance with Senegal’s finance laws.