Senegal: tight but not quite tight enough, say critics
The Republic of Senegal priced its $500m 10 year note this week with a 9.125% yield, the tight end of price guidance of a yield area of 9.25%, and around 100bp inside its own curve. But it came under heavy criticism from syndicate desks away from the deal when the bonds rose six points in secondary market trading in the first day after pricing.
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