The Debt Management Office (DMO) has reaffirmed its commitment to meeting its debt service obligations by announcing the successful redemption of a $500 million Eurobond on its due date.
In a press release shared via its official Twitter handle, the DMO disclosed that the Eurobond was part of a dual-tranche $1 billion Eurobond issued in July 2013 that had a tenor of ten (10) years with a coupon rate of 6.375% per annum.
According to the statement, Nigeria had previously redeemed a $500 million Eurobond in July 2018, another $500 million Eurobond in January 2021, and a $300 million Diaspora Bond in June 2022.
With the redemption of the $500 million Eurobond today, the DMO said Nigeria has redeemed a total of $1.8 billion worth of securities in the International Capital Market (ICM).
“Nigeria’s successful redemption 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,” the statement added.
