Some creditors holding Senegal's sovereign bonds have begun informal talks to potentially form a bondholder group if the government moves forward with a debt rework, people familiar with the matter said. The discussions are at an early stage and no formal committee has been established, the people said, asking not to be identified because the talks are private.

The West African nation has been seeking a financial adviser to help assess its debt sustainability amid rising borrowing costs and pressure on public finances. Senegal's dollar bonds have traded under pressure this year as investors weigh the risk of a restructuring. Yields on the 2033 notes have climbed above 10%, reflecting heightened concern.

A grouping of creditors would give bondholders more leverage in any future negotiations with the government. Similar committees have formed in recent sovereign restructurings, including Ghana and Zambia, where coordinated creditor action shaped the terms of debt exchanges. The International Monetary Fund has urged Senegal to maintain fiscal discipline while addressing financing needs.