Ecobank to Raise $300 Million from International Debt Markets
Ecobank Transnational Incorporated (ETI) Plc has announced plans to raise US$300 million from the International Debt Capital Markets (IDCM), through the issuance of tier 2 qualifying sustainability notes.
Ms Adenike Laoye, Group Head, Corporate Communications/Chief of Staff to the Group’s Chief Executive Officer, disclosed this in a notice posted on the Nigeria Exchange (NGX) Ltd on Monday in Lagos.
ETI is the parent company of the Ecobank Group, a leading Pan-African banking group with banking operations in 33 countries.
The notice also sent to the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (Stock Exchanges) said the issuance was pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation.
ETI said it was seeking to raise 300 million dollars from the IDCM through the issuance of tier 2 qualifying sustainability notes pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation.
It said an equivalent amount of the net proceeds of the notes would 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.
“In view of the foregoing, ETI is pleased to notify 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.
“It should be noted that the issuance of the notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation,” the notice said
Ecobank to Raise $300 million from International Debt Markets
