BREAKING: Nigeria repays last tranche of $500m Eurobond borrowed by Jonathan

Nigeria reaffirmed its commitment to meeting its debt service obligations after the government on Wednesday redeemed a $500 million Eurobond borrowed in 2013 under former President Goodluck Jonathan.

The Eurobond was issued in July 2013 (as part of a dual-tranche USD1 billion
Eurobond) for a tenor of ten (10) years at a coupon of 6.375% per annum, according to a press statement by the Debt Management Office (DMO).

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.