Ecobank Transnational plans $300m bond issuance

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group has notified the Nigerian Exchange Limited (NGX), the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières that it is seeking to raise $300 million from the international debt capital markets.

The Bank will be issuing Tier 2 qualifying Sustainability Notes pursuant to the United States Securities and Exchange Commission Rule 144A and Regulations (the Notes).

The issuance of the Notes (the “Transaction”) is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation.

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An equivalent amount of the net proceeds of the Notes will be used to finance or re-finance, in part or in full, new or existing eligible assets in accordance with ETI’s Sustainable Finance Framework.

Ecobank Transnational Incorporated is the parent company of the Ecobank Group, the leading Pan-African banking group with banking operations in 33 countries.

In view of the foregoing, ETI has notified the Stock Exchanges of the proposed launch of the Notes. ETI intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.