ETI Issues a 5-Year $50m Senior Unsecured Bond Offering

Thursday, May 30, 2019 06:00PM / NSE

Ecobank Transnational Incorporated (“ETl/Issuer’), a leading pan-African banking group with presence in 36 African countries, rated B (stable) and B- (stable) by Fitch and S&P respectively, has mandated Deutsche Bank, Renaissance Capital, Standard Bank and Standard Chartered Bank as Joint Lead Managers to issue a 5-year $50 million tap on its Rule 144A/Reg S 5-year USD denominated senior unsecured bond offering. The issue is rated B and B- by Fitch and S&P respectively. The proceeds from the offering will be used for ETI’s general corporate purposes.

The information contained herein shall not constitute or form part of any offer to sell or solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction where it is unlawful to do so. The securities to which this announcement relates have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state of the United States or other jurisdiction and may not be offered, sold, pledged or otherwise transferred in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to registration or an exemption from the registration requirements of the Securities Act and in compliance with any applicable state securities laws.

This announcement is directed only at persons (i) outside the United Kingdom; (ii) that have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order’); (iii) falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order or (iv) to whom this announcement may otherwise be directed without contravention of Section 21 of the Financial Services and Markets Act 2000 (all such persons together being referred to as “relevant persons”). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

This announcement is an advertisement and is not a prospectus for the purposes of Directive 2003/71/EC, as amended (such directive, together with any applicable implementing measures under such directive, the “Prospectus Directive’).

In member states of the European Economic Area (“EEA”), this announcement is directed only at persons who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive.

Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document has been prepared as not available to retail in EEA.

Singapore Securities and Futures Act (SFA) Product Classification - the Issuer has determined, and hereby notifies all relevant persons (as defined in Regulation 3(b) of the Securities and Futures (Capital Markets Products) Regulations 2018 (the "SF (CMP) Regulations") that the securities to which this announcement relates are “prescribed capital markets products" (as defined in the SF (CMP) Regulations) and "Excluded Investment Products" (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products).

This announcement is not being made, directly or indirectly, to any person in any member state of the West African Economic and Monetary Union.

A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organisation. Similar ratings for different types of issuers and on different types of securities do not necessarily mean the same thing. The significance of each rating should be analysed independently from any other rating.

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