Ecobank Finalises Early Repayment Of $300m Eurobond

Ecobank Nigeria Limited has completed the repayment of bondholders who validly tendered their notes ahead of the February 2026 maturity date.

The bank disclosed this in a statement released on Tuesday.

Ecobank Nigeria had earlier prepaid about $245 million of its $300 million Eurobond, accounting for over 80 per cent of the total issuance. The 7.125 per cent senior notes are scheduled to mature in February 2026.

According to the statement, the bank launched a tender offer on 27 November 2025 to eligible noteholders for the remaining $150 million outstanding on the bond, giving investors the option to redeem their holdings before the original maturity date of 16 February 2026. The early and late tender deadlines were set for 11 December 2025 and 29 December 2025, respectively.

Bondholders whose notes were validly tendered and accepted received a cash payment of $1,000 for every $1,000 in principal, along with accrued interest calculated from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.

Following the completion of the tender process, the outstanding principal on the notes was reduced to about $55.09 million. The bank said the move underscores its proactive liability management strategy and commitment to strengthening its balance sheet.

The transaction was carried out with Renaissance Capital Africa, through Renaissance Securities Nigeria Limited, serving as financial adviser and dealer manager, while Sodali & Co Limited acted as tender agent. The notes were originally issued by EBN Finance Company B.V. solely to finance the $300 million 7.125 per cent senior notes due in 2026 issued by Ecobank Nigeria Limited.