Nigeria redeems $500m Eurobond, re-affirms commitment to meeting debt service obligations
Nigeria on Wednesday, redeemed a 500 million dollars10-year tenor Eurobond with the due date of July 12, 2023.
A statement by the Debt Management Office (DMO) on Wednesday, said that the Eurobond was issued in July 2013 as part of a dual-tranche one billion dollars Eurobond for a tenor of 10 years at a coupon of 6.375 percent per annum.
The DMO said that the redemption of the Eurbond was a demonstration of the country’s commitment to meeting its debt service obligations.
It said that Nigeria had previously redeemed a 500 million dollars Eurobond in July 2018, another 500 million dollars Eurobond in January 2021, and a 300 million dollars Diaspora Bond in June 2022.
“These, together with the 500 million dollars Eurobond redeemed today, bring the total amount of securities redeemed by Nigeria in the International Capital Market (ICM) to 1.8 billion dollars.
“Nigeria’s successful redemption of its Eurobonds and Diaspora Bond in the ICM over the past six years is a demonstration of its strong debt management operations and planning,’ the DMO said.
