Nigerian banks face upcoming Eurobond obligations totaling approximately $2.35 billion, which are due by the end of 2026. The maturity or callable date for the Eurobonds issued by five Nigerian banks ranges between Q4 2025 and Q4 2026.
The $350 million Senior Unsecured Eurobond by First Bank of Nigeria will be the first to mature in October 2025. The bond, which was issued in 2020, was the first Eurobond issued by a Nigerian bank since 2017.
It will be followed by Ecobank Nigeria’s $300 million Senior Unsecured facility, which will mature in February 2026. Ahead of the maturity, the bank made a tender offer to buy back $150 million of the facility from bondholders. This move is expected to help the bank reduce its interest expenses.
