BusinessDay

Zenith Bank redeems $500m Eurobond

Zenith Bank Plc has redeemed the balance of $107.4million of its $500million Eurobond Notes due May 30, 2022.
The bank said it further demonstrates its highly diversified and robust funding sources, and its impeccable pedigree and track records in treasury management.

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The Eurobond Notes were issued on May 30, 2017, as the second tranche of the bank’s $1billion Global Medium Term Note Programme, with a 5-year tenor and coupon of 7.375percent.

Zenith Bank had in September 2019 redeemed $392.6million of the Notes through a Cash Transfer Offer ahead of its maturity date of May 30, 2022.

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