![](https://onlinenigeria.com/wp-content/uploads/2023/07/nigerian-govt-repays-500bn-eurobond-in-july-1-8bn-in-last-five-years.jpg)
The Debt Management Office (DMO) has disclosed the Federal Government has redeemed a $500 million Eurobond on its due date.
According to a statement by the debt office, the due date to redeem the Eurobond, which was issued in July 2013, was on July 12, 2023.
Redemption of a bond is the complete repayment of a total debt, which is the principal amount, the amount invested or loaned, and any interest owed to the due date.
The debt office revealed that the Eurobond issued 10 years ago was part of a dual-tranche $1 billion Eurobond that has 10 years tenor and a 6.375 per cent per annum coupon.
READ ALSO:DMO boss, Oniha, counsels incoming govt on dept management, borrowings
DMO reported that this is one of many Eurobonds redeemed by the Nigerian government, with three done between 2018 and 2022.
“Nigeria had previously redeemed a USD500 million Eurobond in July 2018, another USD500 million Eurobond in January 2021, and a USD300 million Diaspora Bond in June 2022,” the DMO said.
“These, together with the USD500 million Eurobond redeemed today, bring the total amount of securities redeemed by Nigeria in the International Capital Market (ICM) to USD1.8 billion,” DMO said.
The redemption, according to the debt office, is a testament to the Nigerian government’s strong debt management, “Nigeria’s successful redemption of its Eurobonds and Diaspora Bond in the ICM over the past six (6) years is a demonstration of its strong debt management operations and planning,” the statement reads.
Join the conversation
Opinions
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
You may be interested
Why Pesobet Casino is the Top Choice for Filipino Players
Webby - August 28, 2024We understand that finding a reliable Philippines online casino can be a daunting task, which is why we recommend Pesobet…
Hướng dẫn chơi casino trực tuyến tại Happyluke 2024
Webby - August 28, 2024Nếu bạn đã nghe về Happyluke và tự hỏi nó cung cấp gì cho người chơi Việt Nam, chúng tôi…
![FIBA U-18 African Championship: Nigeria To Arrive South Africa Friday](https://onlinenigeria.com/wp-content/uploads/2024/08/fiba-u-18-african-championship-nigeria-to-arrive-south-africa-friday-520x458.jpg)
FIBA U-18 African Championship: Nigeria To Arrive South Africa Friday
Webby - August 28, 2024Nigeria’s basketball team will jet out to South Africa on Friday for the FIBA U-18 African Championship.A total of 24…