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.