LAGOS, July 24, 2025 – Fitch Ratings has noted that Emerging Nations Group (ENG) recently completed a successful tender offer to repurchase $150 million out of its $300 million Eurobond, marking a strategic move to reduce external debt exposure and improve its credit profile.
According to the agency, the buyback was executed at a slight premium, demonstrating ENG’s commitment to proactive debt management despite prevailing market volatility. This partial redemption, Fitch stated, will likely ease short-term debt servicing pressure and improve liquidity metrics, particularly as the bond nears maturity.
Analysts believe the repurchase signals investor confidence in ENG’s financial strength and a calculated effort to restructure liabilities under more favourable conditions. Fitch added that such transactions typically reflect a borrower’s attempt to manage refinancing risks and align its debt portfolio with evolving macroeconomic realities.
The move is part of a broader trend among African corporates and sovereigns seeking to reduce foreign currency debt burdens and mitigate potential exposure to external shocks. Financial experts say continued fiscal prudence and transparent communication with bondholders will be crucial in sustaining market confidence moving forward.