Nigeria on Wednesday, redeemed a $500 million 10-year tenure Eurobond with the due date of July 12, 2023, the Debt Management Office (DMO) has said.
A statement by the Debt Management Office said the Eurobond was issued in July 2013 as part of a dual-tranche one billion dollars Eurobond for a tenure of 10 years at a coupon of 6.375 percent per annum.
The DMO said that redemption of the Eurobond 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.
