Ecobank Nigeria Ltd has completed the early repayment of more than 80 per cent of its $300 million eurobond ahead of its February 2026 maturity.

The bank said in a statement on Tuesday that it successfully concluded a tender offer, prepaying about $245 million of the outstanding notes.

According to Ecobank Nigeria, the amount represents over 80 per cent of the total issuance of its 7.125 per cent Senior Note Participation Notes due in February.

The bank explained that the tender offer, launched on November 27, 2025, allowed eligible noteholders to redeem their holdings ahead of the original maturity date of February 16.

It said the early and late participation deadlines for the offer were December 11 and December 29, 2025, respectively.

Holders of notes that were validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest up to, but excluding, the final settlement date of December 31, 2025.

Upon completion of the offer, the outstanding principal amount of the notes has been reduced to approximately $55.09 million.

The bank said the transaction reflects a proactive approach to liability management and balance sheet optimisation.

The tender offer was executed with Renaissance Capital Africa (Renaissance Securities Nigeria Ltd.) acting as financial adviser and dealer manager, while Sodali & Co Ltd. served as tender agent.

The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, to finance the purchase of the $300 million 7.125 per cent senior note due in 2026 issued by Ecobank Nigeria Ltd.

(NAN)