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Funding issuanceNigeriaVerified brief

Ecobank Nigeria launches tender offer for USD 2026 notes, operation began 28 Nov 2025

On 28 November 2025 Ecobank Nigeria launched a voluntary tender offer for its US$300 million 7.125% Senior Notes due 16 February 2026, with US$150 million still outstanding. The offer commenced 28 Nov and is expected to settle on or before 31 Dec 2025, giving noteholders an option for early redemption.

MSA Market DeskEvent 28 November 2025Reviewed 2 min read

The desk brief

On 28 November 2025 Ecobank Nigeria launched a voluntary tender offer for its US$300 million 7.125% Senior Notes due 16 February 2026, with US$150 million still outstanding. The offer commenced 28 Nov and is expected to settle on or before 31 Dec 2025, giving noteholders an option for early redemption.

If take-up is meaningful, the tender will mechanically compress outstanding supply of this specific USD 2026 issue, reducing secondary market liquidity for that line and creating a nearer-term pricing reference for Nigerian bank USD paper. The magnitude of any secondary-price signal depends on acceptance levels and how the bank funds the buyback; absent high take-up, broader benchmark spreads need not move.

Settlement (on or before 31 December 2025) and announced acceptance/take-up percentage.

Sources & verification

Verified brief

Supported by 4 independent publishers.

Public references supporting this brief.

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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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