Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date, underscoring its proactive approach to balance sheet management.
The bank disclosed this in a statement issued on Tuesday, confirming the successful completion of its recent tender offer exercise.
Ecobank Nigeria had prepaid approximately $245 million of its $300 million Eurobond, representing more than 80 per cent of the total issuance. The bond is a 7.125 per cent Senior Note due to mature in February 2026.
The statement explained that on November 27, 2025, Ecobank Nigeria launched a tender offer to eligible noteholders in respect of the outstanding $150 million portion of the bond, giving investors the opportunity to redeem their holdings ahead of the original maturity date of February 16, 2026.
“The early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively,” the bank said.
It added that holders of notes that were validly tendered and accepted received a cash consideration of $1,000 per $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 the completion of the tender offer, the outstanding principal amount of the notes has been reduced to approximately $55.092 million.
“The initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation,” the statement noted.
The tender offer was executed with Renaissance Capital Africa, through Renaissance Securities Nigeria Limited, acting as financial adviser and dealer manager, while Sodali & Co Limited served as the tender agent.
The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, solely to finance the purchase of the $300 million 7.125 per cent Senior Note due in 2026 and issued by Ecobank Nigeria Limited.
