Zambia says it executed $1.36bn buyback of 2053 eurobond

On Oct. 9, 2026 Zambia announced it had successfully executed a US$1.36 billion buyback of its 2053 eurobond, removing those notes from external long-end supply and reducing near-term external amortisation pressure on the sovereign.

Removing US$1.36bn of long-dated external debt lowers future coupon and principal amortisation coming from the 2053 line, which can ease near-term FX reserve drawdowns and reduce long-end sovereign supply. The actual impact on yields and FX depends on whether the buyback was funded from reserves, new cheaper financing (e.g., AfDB-linked package) or privatization receipts, and on market perception of remaining external maturities and fiscal trajectory.

Confirm details of financing used for the buyback (reserves, AfDB package or new issuance) and any official amendment to the external debt service schedule.