Nigeria Redeems USD500m Eurobond - DMO


Monday, February 01, 2021  / 09:35 AM / by DMO / Header Image Credit: iStock


The Debt Management Office (DMO) has announced that Nigeria's 6.75% USD500M JAN 2021 Eurobond which matures on January 28, 2021 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 USD500 million and final Interest payment due on the Eurobond.


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% USD500M 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 USD10,668.35 million from the ICM thereafter, making a total of USD11,168.35 million to finance the implementation of the Federal Budgets. This is in addition to contributing to Nigeria's External Reserves.


Equally important, a number of private sector operators, notably Nigerian Banks, have raised US Dollar funds from the ICM following Nigeria's debut Eurobond in January 2011.

Proshare Nigeria Pvt. Ltd.

Related News

  1. Yields Strengthen In The Nigeria Eurobond Space As Oil Price Retraced Upward
  2. A Case of Eurobond Market Contagion
  3. SSA Eurobond Market in H2-2020: Monetary Stimulus to Spur Market Recovery
  4. Angola Lead The Sub-Saharan Africa Eurobonds With Nigeria Strengthening In The Shadows
  5. Increase in Crude Oil Price Ignites More Interest in Nigerian Eurobond Market
  6. Sub-Saharan Eurobonds Rallied Following Further Oil Production Cuts By Saudi Arabia
  7. Nigerian Eurobonds Sustain Rally Momentum As Global Oil Prices Continue To Gain
  8. DMO Request for EOI for the Appointment of the Transaction Parties for the Issuance of FGN Eurobonds
  9. Planned External Capital Raising Is to Part Finance Budget 2020 Deficit and Maturing Eurobond
  10. A Return to the Eurobond Market
  11. A Likely Return To The Eurobond Market By FGN In 2020
  12. A Quiet Trading Session as Global Oil Pressure Weigh on Nigerian Sovereign Eurobonds
  13. What is Driving Early Eurobond Redemption by the Banks?
  14. Nigerian Eurobonds Weaken as Trade war Depresses Oil Prices
  15. Nigerian Eurobonds Dip Following Less Dovish US FED Stance
  16. Traders Take Profit on Nigerian Eurobonds Ahead of US FED Rate Decision
  17. Nigerian Bank Eurobonds Maintain Rally as First Bank Announces Call on its 2021 Maturity
  18. DMO Clarifies Media Reports on Eurobond Issuance by Nigeria in 2019
  19. Nigerian Eurobonds Maintain Strong Rally as Global Central Banks Turn Dovish
  20. Nigerian Eurobonds Surge on Trump-Xi's Planned Meeting at G-20 Summit
  21. DMO Lists FRN Dual-Tranche $2.5bn and Triple Tranche $2.86bn Eurobond on FMDQ OTC
  22. African Countries and Eurobond Market: The Lovefest Continues in 2020?
  23. African Countries Scramble for the Eurobond Market


Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News