Nigeria redeems $500m Eurobond – Vanguard News

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Naira currency: Ajami must go
A map of Nigeria

Emma Ujah, Abuja Bureau Chief

 

The Debt Management Office (DMO) has announced that Nigeria’s 6.75% $500M JAN 2021 Eurobond, which matured on January 28, 2021

(yesterday) will be redeemed.

For this purpose, funds have been made available by the Federal Government of Nigeria to the Fiscal Agent to repay the principal sum of $500 million and the final interest payment due on the Eurobond.

 

The DMO said in a statement, yesterday, “By this development, Nigeria continues to demonstrate in practical terms, its commitment towards honouring all its debt service obligations as and when due. “

The 6.75% $500M JAN 2021 Eurobond which was issued in January 2011 was Nigeria’s first foray into the International Capital Market (ICM).

The issuance of the Eurobond enabled Nigeria to diversify its sources of funding as it successfully raised a total of $10.668 billion from the international capital market thereafter, making a total of $11.168 billion to finance the…



Source: Vanguard Newspaper