Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, based in Lome, recently raised $ 450 million as part of its first overbought Eurobond.
This global issue is based on 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 of 9.5%, with interest paid semi-annually in arrears.
The resources will be used for the general needs of the TSI and for the refinancing of existing holding obligations.
The program has attracted interest from investors around the world, including the United Kingdom, the United States, Europe, the Middle East, Asia and Africa.
On the occasion of this first edition of Eurobond, Ade Ayeyemi, CEO of the Group, ETI, said: "This is another innovation for Ecobank and I am very optimistic about the prospects." As we continue the second phase of our strategy of five called "Roadmap for Leadership." Our efforts to improve operational and financial efficiency are paying off, and this program demonstrates the steps we are taking to strengthen our business and create value for all our stakeholders. "
Mr. Greg Davis, Group Chief Financial Officer, also commented on the transaction: "The success of this Eurobond reflects the appetite of the world's leading institutional investors in our own resources and the confidence that continues to be enjoyed by our shareholders. for which we choose to participate. "
With the APO Group