Senegal announced it has raised $750 million (nearly 450 billion CFA francs) from the Euro bond market, making it the fourth country in Sub-Saharan Africa to use this market after Benin, Côte d’Ivoire, and Kenya.

The emerging oil and gas producer secured this debt, which will mature in 2031, in two tranches with a coupon rate of 7.75%, according to Bloomberg data.

Initially, $500 million was sold on Monday, followed by an additional $250 million on Tuesday. A spokesman for Senegal’s Treasury confirmed the total amount raised.

Earlier this year, investor confidence in Senegal was shaken when former President Macky Sall postponed elections scheduled for February and suggested extending his term by an extra year.

This move led to mass protests across the country, forcing Sall to back down and reschedule the vote for March.

Bassirou Diomaye Faye, the opposition leader, won the elections, defeating Sall’s chosen successor and becoming the country’s youngest president.