- The Debt Management Office (DMO) announced on Wednesday that Nigeria has redeemed a $500 million Eurobond.
A eurobond is a debt instrument that is issued in a country or market but is not issued in the domestic currency of that country or market.
On Wednesday, the DMO reiterated its belief that Nigeria would fulfil its debt servicing obligations.
The Eurobond was issued in July 2013 (as part of a dual-tranche $1 billion Eurobond) for a tenor of 10 years with a coupon of 6.375 percent annually, claims the statement.
It stated that Nigeria had already redeemed a $300 million Diaspora Bond in June 2022, a $500 million Eurobond in July 2018 and another $500 million Eurobond in January 2021.
The DMO stated that this boosted the total amount of securities redeemed by Nigeria in the International Capital Market (ICM) to USD1.8 billion, together with the $500 million Eurobond redeemed on Wednesday.
