Zambia launches $1.36bn cash tender for 2053 Eurobond, then sweetens early terms
On 1 June 2026 Zambia opened a cash tender for its US$1,364,725,564 2053 Eurobond, offering $780 per $1,000 for early tenderers ($740 later). Financing includes a $600m concessional African Development Bank loan; on 4 June the government increased the early participation fee by $65m and extended the early deadline to 9 June with a 75% minimum acceptance condition.
The desk brief
On 1 June 2026 Zambia opened a cash tender for its US$1,364,725,564 2053 Eurobond, offering $780 per $1,000 for early tenderers ($740 later). Financing includes a $600m concessional African Development Bank loan; on 4 June the government increased the early participation fee by $65m and extended the early deadline to 9 June with a 75% minimum acceptance condition.
If participation meets the 75% threshold, the buyback will shrink long-dated external USD debt and reduce future coupon obligations, easing medium-term refinancing pressure. The AfDB-backed funding ties the operation to a 15-year grid investment, so the credit impact depends on actual tender uptake and delivery of the grid programme; failure to reach 75% would limit debt stock reduction and preserve the existing maturity profile.
Final tender participation by the extended early-deadline (9 June 2026) and whether the 75% acceptance condition is met.
Sources & verification
Developing storyFurther independent confirmation is required.
- Zambia launches $1.36bn buyback of 2053 EurobondbloombergSource published (opens in a new tab)
- Zambia improves buyback terms on US$1.36bn 2053 Eurobond as debt restructuring advances - Africa Business Insightafricabusinessinsight.comSource published (opens in a new tab)
Public references supporting this brief.
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- Zambin 33Jun 203396.1886.460%
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