Creditors holding Senegal's sovereign bonds have begun informal talks to create a group in case the country's government initiates a debt restructuring,
Bloomberg News reported, citing sources familiar with the matter.
According to sources, bondholders who have discussed the creation of the special group include Morgan Stanley Investment Management and BlueBay Asset Management. The talks are still in the early stages, and no formal decision has been made, the sources added.
Bond investors will need a committee to represent their interests in negotiations with the government should it decide to restructure the debt.
Senegal is considering hiring a financial advisor and has already contacted several firms, including Lazard, Rothschild & Co., and Alvarez & Marsal, the sources said. The country has not yet made a final decision on whether to pursue any form of debt restructuring or repurposing.