FG Re-Pays $500m Eurobond Debt

By Sola Omoniyi, Lagos

The Federal Government of Nigeria through the Debt Management Office of Nigeria announced on Wednesday, July 12, that the country had paid a $500 million Eurobond that was due on July 12, 2023.

The Eurobond was among the $1 billion issue that was launched in July 2013, with 10 years and a coupon of 6.375%.

In a release by DMO, said the successful payback of the debt shows the nation’s commitment to meeting its debt service obligation.

It was stated that Nigeria had earlier paid a USD500 Million Eurobond in July 2018, a USD500 million Eurobond in January 2021 and USD300 million Diaspora bond in June 2022, and USD500 million on July 12, 2023.