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Issuer developmentsNigeriaDeveloping story

Ecobank Nigeria launches tender for remaining $150m of 7.125% eurobond due Feb 2026

On 28 November 2025 Ecobank Nigeria (via EBN Finance Company B.V.) commenced a tender offer for up to US$150,000,000 of its outstanding US$300m 7.125% senior notes due 16 February 2026, offering U.S.$1,000 per U.S.$1,000 principal plus accrued interest and expecting settlement by end-December 2025.

MSA Market DeskEvent 28 November 2025Reviewed 1 min read

The desk brief

On 28 November 2025 Ecobank Nigeria (via EBN Finance Company B.V.) commenced a tender offer for up to US$150,000,000 of its outstanding US$300m 7.125% senior notes due 16 February 2026, offering U.S.$1,000 per U.S.$1,000 principal plus accrued interest and expecting settlement by end-December 2025.

Concentrating a buyback on the short-dated 16 February 2026 maturity removes liquidity from the front end of Nigerian bank hard-currency paper and centralises repayment risk management onto Ecobank Nigeria's on-balance-sheet liquidity. Secondary-market depth in the 2026 line could tighten, affecting holders rolling or liquidating short-dated exposures ahead of settlement, without implying specific price moves.

Early Participation Deadline (5:00 p.m. New York time) on 11 December 2025 and announcement of early results on or about 12 December 2025.

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Price Discovery

Nigeria sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

15 priced bonds
9.18%8.18%7.18%6.18%5.18%20272033203920452051Nigeria 27 · Nov 2027 · 5.712%Nigeria 28 · Sept 2028 · 6.192%Nigeria 29 · Mar 2029 · 6.493%Nigeria 30 · Feb 2030 · 6.839%Nigeria 31 Jan · Jan 2031 · 7.177%Nigeria 31 Jun · Jun 2031 · 7.137%Nigeria 32 · Feb 2032 · 7.351%Nigeria 33 · Sept 2033 · 7.752%Nigeria 34 · Dec 2034 · 7.859%Nigeria 36 · Jan 2036 · 7.987%Nigeria 38 · Feb 2038 · 7.982%Nigeria 46 · Jan 2046 · 8.617%Nigeria 47 · Nov 2047 · 8.456%Nigeria 49 · Jan 2049 · 8.598%Nigeria 51 · Sept 2051 · 8.655%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Nigeria 27Nov 2027100.8135.712%
  • Nigeria 28Sept 202899.8756.192%
  • Nigeria 29Mar 2029104.1256.493%
  • Nigeria 30Feb 2030100.8756.839%
  • Nigeria 31 JanJan 2031105.6257.177%
  • Nigeria 31 JunJun 2031109.6257.137%
  • Nigeria 32Feb 2032102.2507.351%
  • Nigeria 33Sept 203398.0007.752%
  • Nigeria 34Dec 2034114.8757.859%
  • Nigeria 36Jan 2036104.1257.987%
  • Nigeria 38Feb 203897.8757.982%
  • Nigeria 46Jan 2046104.7508.617%
  • Nigeria 47Nov 204791.8758.456%
  • Nigeria 49Jan 2049106.3758.598%
  • Nigeria 51Sept 205195.8758.655%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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