Oladele Oduniyi
Ecobank Nigeria , a subsidiary of leading pan – African banking group, Ecobank Transnational Incorporated (ETI), has said that it has successfully priced its $300 million bond issuance. According to ETI’s statement to the Nigerian Exchange (NGX), the debt security is a fixed – rate, US dollar – denominated senior unsecured bond with a five year tenure, maturing in February 2026.
The repaying was confirmed in a statement, which said, “Ecobank Nigeria Limited has confirmed the success of its ongoing tender and exit consent solicitation in respect to its $300 million 7.125% Senior Notes due 2026 (the “Notes”).
“On July 8, 2025, the bank demonstrated strong liquidity and financial resilience by repaying 50% of its Eurobond ahead of the scheduled maturity in February 2026. As of July 11, 2025, the bond traded near par at $99.00, reflecting strong investor confidence in the bank’s ability to repay at maturity.
“The early repayment was necessitated by improved liquidity position, backed by collections from loan repayments and early redemption of its promissory notes from its parent. The bank has firm liquidity plans in place to ensure the remaining 50% of the Eurobond is repaid in full at maturity. “In addition, the bank used the opportunity to require bondholders’ consent to remove the capital adequacy ratio from its Eurobond covenant.
“In 2024, the bank’s capital adequacy ratio (CAR) declined to 7.65%, slightly below the 10% regulatory requirement for a national bank. This drop was driven by the depreciation of the Naira, which impacted its loan portfolio with significant foreign currency exposure. However, the bank has come up with measures aimed at restoring the CAR to its regulatory limit.