Ecobank Nigeria launches tender for outstanding $150m of 2026 senior Eurobond, offer commenced Nov 28

On 28 November 2025 Ecobank Nigeria commenced a tender offer for its $300,000,000 7.125% senior notes due 16 February 2026, with $150,000,000 outstanding; the offer (settling on or before 31 December 2025) offers $1,000 per $1,000 plus accrued interest for validly tendered notes.

Removing near‑dated external supply through a cash tender can tighten the 2026 senior curve by compressing term‑specific liquidity premia, but the magnitude depends on take‑up and whether the bank funds the purchase from domestic or external sources. If buybacks are funded externally, USD liquidity effects are smaller; if domestic, local funding reallocation could pressure short‑term Naira liquidity or bank balance sheets.

Tender settlement and final take‑up results due on or before 31 December 2025.