Senegal has raised 560 billion CFA francs, roughly one billion US dollars, in a regional bond sale, exceeding its initial target of 400 billion CFA francs and achieving a coverage rate of 140 percent, Bloomberg reports. The offering on the West African UMOA-Titres market was extended by several days to accommodate strong investor demand.

The issuance comes amid heightened financing pressures after a hidden-debt scandal revealed in 2024 exposed previously undisclosed liabilities. The revelation pushed Senegal’s debt-to-GDP ratio near 120 percent and widened its fiscal deficit, constraining the country’s access to international capital markets and prompting closer scrutiny from external lenders, including the International Monetary Fund.

In response, the government has increasingly relied on regional debt markets. Data show that Senegal mobilised more than 1.26 trillion CFA francs in public securities on regional exchanges during the first half of 2025, more than double the volume raised in the same period a year earlier, reflecting both investor appetite for regional instruments and the authorities’ strategy to secure domestic financing amid tighter global conditions.

The government said the funds raised will support its economic recovery efforts and reduce reliance on external borrowing. The strong subscription indicates continued confidence among regional investors despite the sovereign debt concerns, and a shift toward medium- and long-term instruments is helping the country extend maturities and ease refinancing pressures.