According to the Debt Management Office, the redemption of the Eurobond on its due date reaffirmed Nigeria’s commitment to meeting its debt service obligations.
The Eurobond was issued in July 2013 (as part of a dual-tranche $1 billion Eurobond) with a ten-year tenor and a coupon rate of 6.375% per year.
“In July 2018, Nigeria redeemed a $500 million Eurobond, another $500 million Eurobond in January 2021, and a $300 million Diaspora Bond in June 2022.”
“These, along with the $500 million Eurobond redeemed today (yesterday), bring Nigeria’s total amount redeemed in the International Capital Market (ICM) to $1.8 billion.”
“Nigeria’s successful redemption of Eurobonds and Diaspora Bonds in the ICM over the past six (6) years is a demonstration of its strong debt management operations and planning,” the DMO added.
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