Ecobank Transnational Incorporated debut $450 million Eurobond oversubscribed

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

15 Wool Braid Hairstyles You Should Try

Wool braid hairstyles have been popular for years and show no signs of slowing down. Wool braids allow you...

List of latest Ponzi schemes in Nigeria

These are the latest and past Ponzi scams and shady investment products that Nigerians are putting their monies into. What...

Ecobank Transnational Incorporated, ETI, the Lomé-based parent company of the Ecobank Group, is pleased to announce that it has successfully raised $450 million in its debut Eurobond which was oversubscribed.

The Global Offering is a 5-year unsecured note (144A/RegS) listed on the main market of the London Stock Exchange. The bond matures in April 2024 and was issued with a coupon pricing of 9.5% with interest payable semi-annually in arrears.

The proceeds will be used for ETI’s general corporate purposes and to refinance existing Holdco obligations.

Investor interest was global, including United Kingdom, United States, Europe, the Middle East, Asia, and Africa.

- Advertisement -

On this debut Eurobond issuance, Mr Ade Ayeyemi, Group Chief Executive Officer of ETI, stated: “This is another first for Ecobank and I’m very excited at the prospects for the Group as we continue the second phase of our 5-year ‘Roadmap to leadership’ strategy. Our efforts toward greater operational and capital efficiency are paying off, and this offer is another example of the measures we are taking to strengthen our institution and deliver value for all of our stakeholders”.

The Group Chief Financial Officer, Mr Greg Davis, also commenting on this Eurobond said: “The success of this Eurobond reflects appetite from high quality and real money institutional investors globally and the trust that continues to be conferred on our institution and the markets we have chosen to participate in.”

- Advertisement -
Ecobank Transnational Incorporated debut 0 million Eurobond oversubscribedEcobank Transnational Incorporated debut 0 million Eurobond oversubscribed

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Read Also:  Outlook for the Global Economy in H2-19: Increasing drumbeats of a slowdown

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ecobank Transnational Incorporated debut 0 million Eurobond oversubscribedEcobank Transnational Incorporated debut 0 million Eurobond oversubscribed

Latest News

How Business Can Fight COVID-19 in the Poorest Communities

The COVID-19 crisis has triggered an unprecedented homegrown response in Africa. There has been an outpouring of corporate philanthropy...

Lagos Business School emerges as the only African business school on 2020 Economist ranking

Lagos Business School (LBS) has become the only business school in Africa to be featured on The Economist 2020 Executive MBA Ranking. The Economist’s Executive...

Nigeria H2’20 Outlook – The viral shock

The year 2020 has been a struggle. A global pandemic is in full swing and is poised to upend lives and livelihoods, obliterating any...

BUA Group to set up 3 million Metric-ton Cement Company, 50MW Power Plant in Adamawa

The Bua Group announced that it is set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk...

Economic Slowdown – Quick Response But No Quick Fix (LBS Executive Breakfast Session – July 2020)

Nigerian manufacturers are mostly anxious about two things today: How long will the pandemic lockdown continue before demand for my products recover? (X) - Unknown When will...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Ecobank Transnational Incorporated debut 0 million Eurobond oversubscribedEcobank Transnational Incorporated debut 0 million Eurobond oversubscribed