The Debt Mnagement Office Wednesday disclosed that Nigeria has re-affirmed its commitment to meeting its debt service obligations as it redeems a usd500 million eurobond on its due date on July 12, 2023.
The DMO in a statement in Abuja said, “The Eurobond was issued in July 2013 (as part of a dual tranche USD1 billion Eurobond) for a tenor of ten (10) years at a coupon of 6.375% per annum.
“Nigeria had previously redeemed a USD500 million Eurobond in July 2018, another USD500 million Eurobond in January 2021, and a USD300 million Diaspora Bond in June 2022.
“These Eurobond redeemed today, , together with the USD500 million bring the total amount of securities Nigeria in the International Capital Market (ICM) redeemed to USD1.8 billion. 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 said.
