Ecobank Nigeria Limited has announced a tender offer for the remaining US$150 million of its US$300 million 7.125 per center Senior Note Participation Notes due in February 2026.
The offer, which opened on Friday, 28 November 2025, allows eligible noteholders to tender their securities before the bond’s original maturity date of 16 February 2026.
Investors whose notes are accepted will receive US$1,000 per US$1,000 principal, plus accrued and unpaid interest up to but excluding the settlement date.
The transaction is expected to settle on or before 31 December 2025.
According to the bank, the tender offer forms part of its “proactive approach to liability management,” aimed at strengthening capital planning flexibility and maintaining a well-structured debt mix amid evolving macroeconomic conditions. Participation in the offer remains at the discretion of noteholders.
This move comes four months after Ecobank Nigeria redeemed US$150 million, half of the Eurobond, in a strategic liquidity-driven buyback executed through a tender offer and exit consent process. That action was made possible by improving cash flows, robust loan recoveries, and early settlement of promissory notes from its parent, Ecobank Transnational Incorporated.
The latest tender accelerates the repayment of the remaining Eurobond by two months, effectively enabling near-complete debt retirement ahead of schedule.
The move signals the bank’s strong liquidity position, reduces refinancing uncertainty, and reinforces investor confidence amid elevated global borrowing costs and macroeconomic volatility.
Ecobank Nigeria had previously confirmed its intention to redeem the remaining US$150 million at maturity, subject to market conditions.
The tender offer now provides both the bank and investors with flexibility: the bank can align its debt profile with ongoing capital recovery efforts, while investors have the option to rebalance portfolios before year-end.
The initiative aligns with broader group-level efforts. Ecobank Transnational Incorporated has reduced its borrowed funds by 15% to N2.83 trillion as of September 2025, representing 6 per cent of total assets, down from 8 per cent in December 2024.
This demonstrates a sustained focus on balance sheet derisking and capital optimisation across the group.