Zenith announces redemption of $500m Eurobond

Zenith Bank Plc on Tuesday announced the redemption of the US$107.4m balance of its US$500m Eurobond notes due May 30, 2022. The Eurobond notes were…

Abiodun Alade

Wed, 1 Jun 2022 2:00:58 WAT

Zenith Bank Plc on Tuesday announced the redemption of the US$107.4m balance of its US$500m Eurobond notes due May 30, 2022.

The Eurobond notes were issued on May 30, 2017, as the second tranche of the US$1billion Global Medium Term Programme, with a five-year tenor and a coupon of 7.375 percent, Zenith said in a statement to the Nigerian Exchange Limited on Tuesday.

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In September 2019, Zenith redeemed US$392.6million of the notes through a Cash Tender offer ahead of its maturity date of May 30, 2022, the bank explained.

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