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Ecobank Transnational Incorporated (ETI), the Lom-based parent company of the Ecobank Group (www.Ecobank.com), was hosted today by the London Stock Exchange for a virtual market opening ceremony to celebrate the successful listing of the Tier 2 Sustainability Notes on the London Stock Exchange (LSE) main market. These are the first-ever Tier 2 Sustainability Notes from a financial institution in Sub-Saharan Africa.
This Tier 2 issue is the first to have a Basel III-compliant 10NC5 structure outside South Africa in 144A/RegS format and is now listed on the main market of the London Stock Exchange. The bond, which matures in June 2031, has a call option in June 2026 and is issued with an 8.75% coupon with semi-annual interest payable in arrears.
An equivalent amount of the net proceeds of the bonds will be used by: ETI to finance or refinance new or existing eligible assets as described in ETI‘s Sustainable Finance Framework, available at https://bit.ly/3j4xrlb on which DNV issued a Second Party Opinion.
Investor interest in this second-year euro bond issue was global, including the United Kingdom, United States, Europe, Middle East, Asia and Africa, reaching a 3.6x oversubscribed order book, of more than US$ 1.3 billion at its peak.
Ade Ayeyemi, Group Chief Executive Officer of ETI, said: Strong global interest in our issuance reflects investor confidence in Ecobanks’ strategy and commitment to sustainable financing. We thank the LSE for hosting ETI today and look forward to value creation for all our stakeholders. .
The Joint Lead Managers & Bookrunners in the transaction were Citi, Mashreq, Renaissance Capital and Standard Chartered Bank.
Distributed by APO Group on behalf of Ecobank.
Media contact:
Adenike Laoye
Group Head, Corporate Communications/Group Chief of Staff Chief Executive Officer
Email: [email protected]
Phone: +228 22 21 03 03
About Ecobank Transnational Incorporated (ETI or The Group):
Ecobank Transnational Incorporated (ETI) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs more than 14,000 people and serves approximately 29 million customers in the consumer, commercial and corporate banking sectors in 33 African countries. The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, UK and Dubai, United Arab Emirates. The Group offers a full range of banking products, services and solutions, including bank and deposit accounts, loans, cash management, advisory, trading, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra and the Bourse Rgionale des Valeurs Mobilires in Abidjan. For more information, visit www.Ecobank.com
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