Nigeria has reaffirmed its commitment to meeting its debt service obligations as it redeems a 500 million US Dollar Eurobond on its due date, which is July 2023.
The Eurobond was issued in July 2013 as part of a dual-tranche 1 billion dollar Eurobond for a tenor of ten years at a coupon of 6.375% per annum.
Nigeria had previously redeemed a 500 million dollar Eurobond in July 2018, Another 500 million dollar Eurobond in January 2021, and a 300 million dollar Diaspora Bond in June 2022.
In a statement, the debt management office pointed out that these, together with the 500 million dollar Eurobond redeemed this Wednesday, 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 vonds in the ICM over the past six years, the DMO says, is a demonstration of its strong debt Management operations and planning.
