Ecobank opens the market at the London Stock Exchange to celebrate successful issuance of US$400 Million Eurobond – Africa.com
Ecobank Transnational Incorporated (ETI) (www.Ecobank.com), the parent company of the leading pan-African economic banking group, celebrated the successful issuance of US$400 million of senior unsecured Eurobonds on the London Stock Exchange’s Main Market at the opening of the London Stock Exchange (LSE) today.
Jeremy Avory, CEO of Ecobank Group” said: “Our successful note issuance demonstrates how Ecobank is opening the way for sub-Saharan African financial institutions and businesses to access international capital markets. The note is ETI’s third issuance in the international bond market and the first public issuance of Eurobonds by a sub-Saharan African financial institution since 2021. The bond was oversubscribed by more than 2.1 times, and the strong demand demonstrated the recognition and trust of international and African investors in European bonds. Progress on our growth, transformation and returns strategies. “
The note will mature in October 2029 and pay interest at 10.125%, payable semi-annually.
Ayo Adepoju, Chief Financial Officer of Ecobank Group commented: “We are grateful for the support of United Bank, Africa Finance Corporation, African Export-Import Bank, Mashreq Bank and Standard Chartered Bank as joint lead managers and joint bookrunners, as well as Renaissance Capital Africa as financial institution and partners on this transaction. We greatly value and appreciate the strong support of our development financial institution partners, including the African Finance Corporation, Proparco and the Eastern and Southern African Trade and Development Bank, who helped facilitate this transaction. Thanks also to bond investors for supporting ETI “
ETI will use the net proceeds from the issuance of the notes for general corporate purposes, including refinancing a $350 million senior bridge bond loan facility entered into in March 2024.
Members of ETI’s Board of Directors and management attended the London Stock Exchange to celebrate the successful bond issuance.
For more information about Ecobank, please visit www.Ecobank.com.
Distributed by APO Group on behalf of Ecobank Transnational Incorporated.
Media contact information:
Christian Botham
Group communications
Ecological Banking Multinational Corporation
e-mail: groupcorporatecomms@ecobank.com
Tel: +228 22 21 03 03
URL: www.Ecobank.com
About Ecobank Group (or “Ecobank Transnational Incorporated” or “ETI”):
EcoBank Group is a leading pan-African private banking group with unparalleled African expertise. Its unique pan-African platform is present in 35 sub-Saharan African countries as well as France, the UK, the UAE and China, providing a single gateway for payments, cash management, trade and investment. The group has more than 14,000 employees and delivers consumer, commercial, corporate and investment banking products, services and solutions to more than 32 million customers through multiple channels, including digital. For more information, please visit www.Ecobank.com.
