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Issuer developmentsNigeriaDeveloping story

Nigerian banks face $2.35bn of Eurobond maturities due by end‑2026

Published 20 June 2025, reporting shows five Nigerian banks have about $2.35 billion of Eurobond principal coming due between October 2025 and November 2026. The maturities include First Bank ($350m Oct 2025), Ecobank Nigeria ($300m Feb 2026), Access Bank ($1bn across Sep–Oct 2026), Fidelity ($400m Oct 2026) and UBA ($300m Nov 2026).

MSA Market DeskEvent 20 June 2025Reviewed 2 min read

The desk brief

Published 20 June 2025, reporting shows five Nigerian banks have about $2.35 billion of Eurobond principal coming due between October 2025 and November 2026. The maturities include First Bank ($350m Oct 2025), Ecobank Nigeria ($300m Feb 2026), Access Bank ($1bn across Sep–Oct 2026), Fidelity ($400m Oct 2026) and UBA ($300m Nov 2026).

The concentrated $2.35bn of external bank redemptions compresses rollover and FX-demand risk into visible secondary markets, likely increasing near-term refinancing premia on Nigerian bank Eurobonds and amplifying sovereign–bank spread correlation if investors reprice external-liability risk against Nigeria sovereign yields. Pressure is conditional on banks' use of FX reserves, tender offers, or domestic funding substitutes.

First Bank’s $350m Eurobond maturity in October 2025 and Ecobank Nigeria’s Feb 2026 consent/tender developments.

Sources & verification

Developing story

Further independent confirmation is required.

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
8.95%7.90%6.85%5.80%4.75%20272033203920452051Nigeria 27 · Nov 2027 · 5.310%Nigeria 28 · Sept 2028 · 5.728%Nigeria 29 · Mar 2029 · 6.011%Nigeria 30 · Feb 2030 · 6.409%Nigeria 31 Jan · Jan 2031 · 6.894%Nigeria 31 Jun · Jun 2031 · 6.784%Nigeria 32 · Feb 2032 · 6.950%Nigeria 33 · Sept 2033 · 7.279%Nigeria 34 · Dec 2034 · 7.601%Nigeria 36 · Jan 2036 · 7.713%Nigeria 38 · Feb 2038 · 7.710%Nigeria 46 · Jan 2046 · 8.375%Nigeria 47 · Nov 2047 · 8.163%Nigeria 49 · Jan 2049 · 8.337%Nigeria 51 · Sept 2051 · 8.393%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Nigeria 27Nov 2027101.1885.310%
  • Nigeria 28Sept 2028100.6885.728%
  • Nigeria 29Mar 2029105.1256.011%
  • Nigeria 30Feb 2030102.1256.409%
  • Nigeria 31 JanJan 2031106.6256.894%
  • Nigeria 31 JunJun 2031111.0006.784%
  • Nigeria 32Feb 2032104.0006.950%
  • Nigeria 33Sept 2033100.5007.279%
  • Nigeria 34Dec 2034116.5007.601%
  • Nigeria 36Jan 2036105.9387.713%
  • Nigeria 38Feb 203899.8757.710%
  • Nigeria 46Jan 2046107.1258.375%
  • Nigeria 47Nov 204794.6258.163%
  • Nigeria 49Jan 2049109.1258.337%
  • Nigeria 51Sept 205198.5008.393%

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