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Thursday, April 18, 2019 12:40PM /
NSE
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.
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.”
Visit Ecobank Transnational Plc IR Page in Proshare MARKETS
Graph 1: Ecobank Transnational Plc – One Year Share Price Movement
Table: Audited 2018 Results
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