27.2 C
Sunday, April 2, 2023

Ecobank Nigeria to Raise $300 Million Eurobond

Must read

- Advertisement -
- Advertisement -

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, a leading Pan-African banking group with banking operations in 34 countries has informed the investing public that Ecobank Nigeria Limited, a key subsidiary of ETI is seeking to raise capital from the international debt capital market through the issuance of $300 million senior notes (the Notes), pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S (the Transaction).

The proceeds of the Eurobond will provide medium term funding and help to enhance the capacity of the Bank to support international trade and service in Africa. Further, the Notes, which will be issued through a Dutch special purposes funding vehicle, will be listed on the London Stock Exchange.

In view of the foregoing, ETI notified the Nigerian Stock Exchange and the investing public of the proposed launch of the Notes by the Bank.

The Bank intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market.

The Central Bank of Nigeria has confirmed that it has no objection to the Transaction.

“It should be noted that the Transaction is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation,” Ecobank said.

- Advertisement -
- Advertisement -

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article