Issuer

 State of Senegal represented by the General Directorate of Public Accounting and Treasury

Nature of the operation 

 Simultaneous issuance of bonds by Public Offering

Nominal value 

 CFAF 10,000

Issue price 

 CFAF 10,000

Type of securities 

 The bonds are issued in the form of dematerialized bearer securities. They must be registered in accounts held by an authorized intermediary chosen by the bearer. Ownership of the Bonds will be evidenced by book entry. 

Bonds will be held with the Central Depository/Settlement Bank (“DC/BR”). The DC/BR will ensure the clearing of obligations between Account holders

Payment of interest 

 Payment will be made semi-annually, from the date of enjoyment of the securities

Capital amortization

 The repayment of the capital will take place half-yearly after a deferral of: (i) 1 year for tranche A; (ii) 2 years for tranche B and for tranche C

Taxation

 Income from these securities is exempt from any tax for the investor in Senegal and subject to the tax legislation applicable to income from securities in force in other countries, at the time of servicing the debt.

Subscription period 

From August 03 to 24, 2023

Quoting

The securities will be listed on the Regional Stock Exchange (BRVM)

Garantie de l’émission

Sovereign Guarantee of the State of Senegal

Allocation method

FIFO – In order of arrival