The Debt Management Office on Thursday said Nigeria’s 6.75% $500m January 2021 Eurobond, which matured on January 28, 2021, would be redeemed.
A statement posted on the DMO’s website said for this purpose, funds had been made available by the Federal Government of Nigeria to the fiscal Amagent to repay the principal sum of $500m and final Interest payment due on the Eurobond.
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By this development, it said Nigeria continued to demonstrate in practical terms, its commitment to honouring all its debt service obligations as and when due.
It said the 6.75 percent $500m January 2021 Eurobond, issued in January 2011, was Nigeria’s first foray into the International Capital Market.
It noted that the issuance of the Eurobond enabled Nigeria to diversify its sources of funding as it successfully raised a total of $10,668.35m from the international capital market thereafter, making a total of $11,168.35m to finance the implementation of the federal budgets.
According to the statement, this is in addition to contributing to Nigeria’s external reserves.
