Zambia announces proposed US$1.36bn Eurobond buyback, with AfDB financing discussed

On June 10, 2026 Zambia announced a proposed US$1.36 billion buyback of restructured Eurobonds, saying it has bondholder support to proceed and is seeking financing that could include a US$600 million African Development Bank facility. The move follows an earlier announcement that 94% of the broader restructuring was completed (Oct 28, 2025).

If executed, a financed buyback would change the cash-flow profile and creditor mix for Zambia’s restructured Eurobond stock by reducing outstanding principal and shifting maturities depending on new funding terms. The ultimate fiscal and market impact will depend on the cost and tenor of replacement finance and the share of bonds retired versus refinanced; it does not by itself imply immediate sovereign spread repricing.

Whether the government secures the reported US$600m AfDB facility and finalizes bondholder transaction terms (approval/settlement mechanics).