Senegal Bonds Surge as Leader Again Rules Out Debt Restructuring

Senegal’s dollar bonds surged after Prime Minister Ousmane Sonko again rejected a debt restructuring, saying the West African nation would rely on domestic markets to finance its budget and debt-servicing costs.

The nation’s dollar bonds due 2031 rose 2.4 cents on the dollar to trade at 66.36 cents as of 2:33 p.m in London, the highest level since November. Notes due 2033 also climbed 1.5 cents.