The board of Zenith Bank Plc, on Tuesday, announced successfully redemption of its five-year tenured $500m Eurobond which matured on April 22, 2019.
Issued on April 22, 2014, the bond was part of the bank’s $1bn Global Medium Term Note Programme had a Coupon of 6.250% and “was fully redeemed, leveraging on its strong and highly liquid balance sheet as well as its outstanding treasury management capability.”
A statement to the Nigerian Stock Exchange (NSE) by Michael Osilama Otu, the company secretary, said the balance of $500m Global Medium Term Note issued in May 2017 is billed to mature in 2022.
Otu said, “Zenith Bank has over the years continued to maintain its deep understanding of the market to sustain its consistent operational metrics of strong liquidity, capital and asset quality ratios which reflects its robust risk management practices, strong corporate governance culture, and a well-articulated corporate strategy.”