Ecobank Raises $400 Million from Foreign Market
Ecobank Transnational Incorporate has announced successful pricing of its $400 million capital raise from international debt capital market, according to an official statement.
The debt note was priced at 10.125% and due on 15 October 2029, the Pan-African financial services group told the Nigerian Exchange in a regulatory filing.
The group revealed that interest on the Eurobond note is payable semi-annually in arrears on 15 April and 15 October in each year, commencing on 15 April 2025.
The net proceeds from the issuance of the Notes will be used for general corporate purposes, including refinancing of the U.S. $350 million Senior Bridge-to-Bond Loan Facility entered into in March 2024.
The group has announced that it mandated Absa, Africa Finance Corporation, African Export-Import Bank, Mashreq and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners for its 5-year US dollar denominated note. #Ecobank Raises $400 Million from Foreign Market
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