By Ecobank Nigeria has successfully repaid the full outstanding principal and accrued interest on its $300 million Eurobond due February 16, 2026, marking a key milestone in its liability management and balance sheet optimisation strategy.
The repayment signals the Bank’s strengthened financial position and reinforces its commitment to maintaining investor confidence while enhancing long-term financial resilience.
Strategic Pivot to Local Capital Markets
Following the Eurobond redemption, Ecobank Nigeria announced that it will now prioritise funding through domestic capital markets. The move reflects increasing confidence in Nigeria’s local debt market and aligns with the Bank’s objective of optimising funding costs while deepening engagement within the domestic financial ecosystem.
Ogorchukwu Okwechime, Financial Controller of Ecobank Nigeria, stated that the successful repayment underscores the institution’s disciplined capital planning approach.
“Going forward, Ecobank Nigeria will prioritise domestic credit ratings and local debt issuance to achieve its funding objectives,” he said, noting that the strategy is designed to sustain balance sheet strength and financial flexibility.
Structured Transaction Execution
The tender offer was executed with Renaissance Securities Nigeria Limited (Renaissance Capital Africa) 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. to finance the purchase of the $300 million 7.125 percent Senior Notes due 2026 issued by Ecobank Nigeria.
Strengthened Positioning
The successful redemption highlights the Bank’s proactive liability management framework and its ability to navigate evolving market conditions. By transitioning toward domestic funding sources, Ecobank Nigeria positions itself to leverage local liquidity opportunities while maintaining operational stability and financial discipline.
Industry analysts view the move as a strategic recalibration that enhances the Bank’s capital structure, reduces foreign currency exposure, and supports sustainable growth within Nigeria’s financial landscape.
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