The Federal Government through Debt Management Office (DMO) has redeemed a $500 million Eurobond on its due date, Wednesday July 12, 2023.
Eurobond is a debt instrument that is denominated into a currency other than the home currency of a country or market in which it is issued.
The Eurobond was issued in July 2013 (as part of a dual-tranche $1 billion Eurobond) for a tenor of ten (10) years at a coupon of 6.375% per annum.
Also Read
The DMO said the successful redemption of the Eurobond shows the country’s commitment to meeting its debt service obligations.
“Nigeria had previously redeemed a $500 million Eurobond in July 2018, another $500 million Eurobond in January 2021, and another $300 million Diaspora Bond in June, 2022.
“These, together with the $500 million redeemed today (Wednesday, July 12, 2023) brings to the total number of securities redeemed by Nigeria in the International Capital Market (ICM) to $1.8 billion.
“Nigeria’s successful of its Eurobonds and Diaspora Bond in the ICM over the past six (6) years is a demonstration of its strong debt management operations and planning” DMO said.
By Ajibola Adedoye