Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date.
This was disclosed in a statement issued by the bank on Tuesday.
The PUNCH reports that Ecobank Nigeria had prepaid approximately $245m of its $300m Eurobond, representing more than 80 per cent of the total issuance. The 7.125 per cent Senior Note is due in February 2026.
“On 27 November 2025, Ecobank Nigeria Limited launched a tender offer to eligible noteholders in respect of the outstanding $150 million on the bond, providing them with an opportunity to redeem their holdings ahead of the original maturity date of 16 February 2026.
“The early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively. Holders of notes validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.
“Following completion of the offer, the outstanding principal amount of the notes has been reduced to approximately $55.092m. The initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation,” read part of the statement.
The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali & Co Limited served as tender agent.
The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300 m 7.125 per cent Senior Note due in 2026 issued by Ecobank Nigeria Limited.
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