Zenith Bank redeems $500m Eurobonds

Zenith Bank has announced the redemption of the balance of $107.4 million of its $500 million Eurobond notes due May 30, 2022.

This is a further demonstration of the Bank’s highly diversified and robust funding sources, and its impeccable pedigree and track records in treasury management.

The Eurobond notes were issued on May 30, 2017, as the second tranche of the Bank’s $1 billion Global Medium Term Note Programme with a 5 year tenor and coupon of 7.375%. In September 2019, the Bank had redeemed $392.6 million of the notes through a Cash Tender Offer ahead of its maturity date of May 30, 2022.

Source: Zenith Bank redeems $500m Eurobonds – StocksWatch (stocksng.com)

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