Tuesday, August 3, 2021
nigerian news

Ecobank Transnational Incorporated officially opens the market at the London Stock Exchange after effectively posting its US$350 million Sustainability Bond on the LSE

Ecobank Transnational Incorporated (“ETI”), the Lomé based parent association of the Ecobank Group (www.Ecobank.com), was worked with today by the London Stock Exchange for a market opening virtual help to applaud the successful posting of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) essential market. This tends to the first since perpetually Tier 2 Sustainability Notes by a money-related association in Sub-Saharan Africa.

This Tier 2 issuance rushes to have a Basel III-steady 10NC5 plan outside of South Africa in 144A/RegS plan and is by and by recorded on the guideline market of the London Stock Exchange. The bond, which creates in June 2031, has a call elective in June 2026 and was given a coupon of 8.75% with a superior payable semi-consistently monetarily past due.

A practically identical proportion of the net proceeds from the notes will be used by ETI to back or re-finance, new or existing qualified assets as portrayed in ETI’s Sustainable Finance Framework, open at https://bit.ly/3j4xrlb on which DNV offered a Second Party Input.

Monetary patron interest for this Sophomore Eurobond issue was around the world, including United Kingdom, United States, Europe, the Middle East, Asia, and Africa, achieving a 3.6x oversubscribed request book, of over US$1.3 billion at its zenith.

Ade Ayeyemi, Group Chief Executive Officer of ETI, communicated: “The strong overall premium in our issuance mirrors monetary sponsor’s trust in Ecobank’s framework and our commitment to sensible financing. We thank the LSE for working with ETI today and expect regard creation for all of our accomplices. “.

The Joint Lead Managers and Bookrunners in the trade were Citi, Mashreq, Renaissance Capital, and Standard Chartered Bank.

Passed on by APO Group to support Ecobank.

Media Contact:

Adenike Laoye

Social affair Head, Corporate Communications/Chief of Staff to the Group Chief Executive Officer

Email: groupcorporatecomms@ecobank.com

Tel: +228 22 21 03

About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’):

Ecobank Transnational Incorporated (‘ETI’) is the parent association of the Ecobank Group, the fundamental free compartment African monetary get-together. The Ecobank Group uses in excess of 14,000 people and serves around 29 million customers in the client, business, and corporate monetary regions across 33 African countries. The Group has a monetary grant in France and representatives working environments in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK, and Dubai, the United Arab Emirates. The Group offers a full set-up of banking things, organizations, and plans including bank and store accounts propel, cash the chiefs, cautioning, trade, insurances, wealth, and asset the board. ETI is recorded on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan. For extra information, if it’s anything but a difficult situation, visit www.Ecobank.com

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