Ecobank Completes Early Repayment of Tendered $300m Eurobond Notes

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

The bank announced the successful completion of its tender offer, under which it prepaid approximately US$245 million of its US$300 million Eurobond, representing more than 80 per cent of the total issuance.

The transaction relates to the 7.125 per cent Senior Note Participation Notes due February 2026.

On November 27, 2025, Ecobank Nigeria Limited launched a tender offer to eligible noteholders in respect of the outstanding US$150 million on the bond, providing them with an opportunity to redeem their holdings ahead of the original maturity date of February 16, 2026.

The early and late tender participation deadlines were December 11, 2025 and December 29, 2025, respectively.

Holders of notes validly tendered and accepted received a cash consideration of US$1,000 per US$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 December 31, 2025.

Following completion of the offer, the outstanding principal amount of the notes has been reduced to approximately US$55.092 million.

The initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.

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 US$300 million 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria Limited.