Zambia sweetens buyback for US$1.36bn 2053 Eurobond, extends early-deadline

On 4 June 2026 Zambia announced improved terms on its US$1.36 billion 2053 Eurobond tender, raising the early participation fee by an additional US$65 million and extending the early participation deadline to 9 June; the offer also requires at least 75% of principal to be tendered for purchases to proceed.

If participation rises because of the larger early fee and extended deadline, a successful partial buyback would reduce outstanding long-dated external debt and lower future step-up coupon risk for remaining creditors. That could improve perceived debt-service capacity and secondary-market sentiment for Zambia’s external curve, but actual spread compression depends on accepted volume and follow-through fiscal reforms and creditor coordination.

Final participation and acceptance results for the tender by the extended deadline (9 June 2026).