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Senegal Sees Bond Cash Bolstering Roads to Power, Minister Says

Senegal will use proceeds from its third Eurobond to improve infrastructure including roads and electricity in the West African nation’s bid to bolster economic growth, Finance Minister Amadou Ba said.

The country sold $500 million of 10-year debt yesterday priced to yield 6.25 percent, 250 basis points below its issuance in May 2011. Senegal also sold dollar debt in 2009. It’s seeking investment to achieve average growth of 7 percent this decade, Ba said in an interview in London today.