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    Ecobank Redeems $400m Debt

    Julius AlagbeBy Updated:No Comments1 Min Read
    Ecobank Redeems $400m Debt
    Ecobank

    Ecobank Redeems $400m Debt

    Ecobank Transnational Incorporated (ETI) has announced the repayment of its 5-year US$400 million convertible debt to holders, according to its latest regulatory filing.

    The Lomé-based parent company of the Ecobank Group, announces today that it has repaid upon maturity the 5-year US$400 million convertible debt issued in September and October 2017.

    It said the holders of the convertible debt did not exercise their option to convert their holdings into ordinary shares during the conversion period of 19 October 2019 to 13 October 2022.

    As a result, ETI redeemed the debt at 110% of the principal amount, in line with the terms of the convertible debt agreements. READ: Zenith Bank Redeems $500m Eurobond Notes

    In addition, the group said the repayment did not affect ETI’s regulatory capital since the debt had been fully amortised for capital in 2021. # Ecobank Redeems 5-Year $400m Debt at 110%

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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