ECOBANK Nigeria Limited has repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date of its 7.125 percent Senior Note Participation. The bank said it successfully completed its tender offer, prepaying about $245 million of the $300 million Eurobond — more than 80 percent of the total issuance.
The tender offer, launched on November 27, 2025, provided eligible noteholders with the opportunity to redeem their investments in the outstanding $150 million portion of the bond ahead of the original maturity date of February 16, 2026. The early participation deadline was December 11, 2025, while the late participation window closed on December 29, 2025.
Investors whose notes were validly tendered and accepted received a cash consideration of $1,000 per $1,000 principal amount, along with accrued interest up to, but excluding the final settlement date of December 31, 2025.
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Following completion of the exercise, the outstanding principal on the notes has been reduced to about $55.092 million. Ecobank Nigeria said the transaction reflected its proactive liability-management strategy and prudent balance-sheet optimisation.
Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acted 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, solely to finance Ecobank Nigeria’s $300 million 7.125 percent Senior Note due 2026.
