January 7, 2026 l Dalena Reporters
LAGOS — Ecobank Nigeria Limited has announced the successful early repayment of a substantial portion of its $300 million eurobond, a key debt instrument originally set to mature in February 2026. The move signals a proactive turnaround in the lender’s liability management strategy and balance-sheet optimisation efforts, according to official disclosures.
In a statement to the market, Ecobank confirmed that it had completed an early tender offer for its 7.125 per cent Senior Note Participation Notes, repaying roughly $245 million more than 80 per cent of the total issuance ahead of schedule. The early repayment came after holders of the notes tendered their securities pursuant to a voluntary offer that closed on December 29, 2025, with settlement finalised on December 31, 2025.
The tender process, launched on November 27, 2025, gave eligible bondholders the option to redeem their holdings before the original February 16, 2026 maturity date, receiving $1,000 per $1,000 in principal plus accrued interest up to the settlement date. This strategic liability management initiative reduced the outstanding principal to approximately $55.09 million, enhancing the bank’s flexibility and positioning ahead of looming funding obligations.
Ecobank’s early repayment underscores a conscious shift toward strengthening its financial position, alleviating refinancing risk and demonstrating credibility in international debt markets. Financial advisers for the tender included Renaissance Capital Africa, with Sodali & Co Ltd. serving as tender agent.
Market analysts interpret this development as a positive indicator of liquidity improvement and investor confidence, particularly in a period marked by significant Eurobond maturities across Nigerian banks. Ecobank’s approach reflects broader trends among lenders seeking to manage external debt obligations amid volatile global capital conditions.
The completion of this early repayment places Ecobank Nigeria in a stronger footing as it continues to navigate capital adequacy pressures, regulatory requirements, and market expectations ahead of the remaining maturity and other strategic funding needs.