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# Senegal: bondholder group hires Alvarez & Marsal and warns against principal haircuts
- URL: https://www.sovereigncreditorreview.com/senegal-bondholders-alvarez-marsal-haircuts/
- Published: 2026-10-13T16:00:00.000Z
- Updated: 2026-10-18T16:54:43.000Z
- Description: Holders of $2.2 billion of Senegal’s $5.2 billion bonds appointed Alvarez & Marsal and warned against principal haircuts; a December target for agreements in principle is reported.
- Author: Sovereign Creditor Review Staff
- Tags: Senegal, Restructurings, #scr-import, #Import 2026-10-18 16:18

**Status:** Reported · **Date:** 13 October 2026 · **Country:** [Senegal](https://www.sovereigncreditorreview.com/senegal/) · **Topic:** [Restructurings](https://www.sovereigncreditorreview.com/restructurings/)

Reuters reported on 13 October that holders representing $2.2 billion of Senegal’s $5.2 billion international bonds appointed Alvarez & Marsal as financial adviser and warned against principal haircuts. Its 6 October report described a December target for agreements in principle with official creditors and bondholders, with CFA-franc debt excluded and total-return swaps in scope for contributions. These are negotiating positions and targets, not agreed terms.

### Sources

- [Reuters · bondholder adviser and haircut warning](https://www.reuters.com/world/africa/senegal-bondholders-pick-financial-adviser-debt-talks-warn-against-haircuts-2026-10-13/?ref=sovereigncreditorreview.com)
- [Reuters · timetable and debt perimeter](https://www.reuters.com/world/africa/senegal-aims-deal-with-official-creditors-bondholders-by-december-sources-say-2026-10-06/?ref=sovereigncreditorreview.com)