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.
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.