Zambia launches cash tender to buy back $1.36bn 2053 eurobond, backed by AfDB loan
On 30 May 2026 Zambia opened a cash tender offer to repurchase part of its US$1,364,725,564 eurobond due 2053. The operation is to be funded in part by a reported US$600m concessional loan from the African Development Bank, with early-tender terms paying $780 per $1,000 principal.
The desk brief
On 30 May 2026 Zambia opened a cash tender offer to repurchase part of its US$1,364,725,564 eurobond due 2053. The operation is to be funded in part by a reported US$600m concessional loan from the African Development Bank, with early-tender terms paying $780 per $1,000 principal.
If accepted size is substantial the tender will reduce long-dated outstanding supply on Zambia’s 2053 paper and can tighten long-end spreads by lowering future scheduled coupon exposure. Market impact depends on actual take-up and whether the AfDB-backed financing (tied to a grid programme) proceeds smoothly; absent full acceptance, secondary liquidity and prices may see only a transient uplift.
Early-tender deadline 5 June and the final accepted amount/clearing price for the offer.
Sources & verification
Verified briefSupported by 3 independent publishers.
- Zambia 2053 Bond Buyback Backed by AfDB Loanneopanther.com (opens in a new tab)
- Zambia launches $1.36bn buyback of 2053 EurobondbloombergSource published (opens in a new tab)
- Zambia Launches Buyback of $1.36bn 2053 Bond — Open Zambiaopenzambia.comSource published (opens in a new tab)
Public references supporting this brief.
Price Discovery
Zambia sovereign curve
Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.
- Zambin 33Jun 203396.1886.460%
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