Federal Government Repays $500m Eurobond Borrowed In 2013, Debt Management Office Says

Eko Hot Blog reports that the Federal Government of Nigeria has re-affirms Its commitment to meeting Its debt service obligations as it redeems a 500 million US Dollar Eurobond on its due date which is July 12, 2023.

According to a press release by Debt Management Office, the Eurobond was issued in July 2013 as part of a dual-tranche 1 billion Dollars Eurobond for a tenor of ten years at a coupon of 6.375% per annum.

Editors Pick 

• JUST IN: “Palliatives Coming Soon,” Tinubu Assures Nigerians

• BREAKING: Tinubu Continues Consultation, Receives Class Of 1999 Governors At State House.

• JUST IN: Tinubu Meets Acting EFCC Chairman, Chukko

Nigeria had previously redeemed a 500 million Dollars Eurobond in July 2018, Another 500 million Dollars Eurobond in January 2021, and a 300 million Dollars Diaspora Bond in June 2022.

The debt management office in a statement noted that these, together with the 500 million Dollars Eurobond redeemed this Wednesday, bring the total amount of securities redeemed by Nigeria in the International Capital Market (ICM) to 1.8 billion Dollars.

Further Reading 

• BREAKING: Ladoja Drags Makinde, Olubadan To Court Over Beaded Crown-wearing Obas

• BREAKING: FG Begins Mopping Up Of Firearms And Prosecution of Arms Traffickers

• Ondo State Acting Governor Aiyedatiwa Provides Update On Akeredolu’s Health

Nigeria’s successful redemption of its Eurobonds and Diaspora Bond in the ICM over the past six years the DMO says is a demonstration of its strong debt Management operations and planning.

The country’s total debt stock is valued to be around $103bn.

Click To Watch Our Video Of The Week 

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611