Some holders of Senegal's eurobonds are forming a creditor group and have selected White & Case LLP as their legal adviser ahead of debt-restructuring negotiations with the country, according to people familiar with the matter. The investors are still discussing the final composition of the creditor committee, but the law firm has been chosen to represent them in the talks. The development signals that bondholders are organizing formally as Senegal prepares to address its sovereign debt obligations.

White & Case will advise the group on legal strategy and restructuring terms. The creditor committee formation is an early step in what could become a complex negotiation process between Senegal and its international bondholders.