QUICK TAKE: ETI Announces Launch of $300 Million Fixed Rate Reset Tier-2 Sustainability Notes

Pan-African banking group, Ecobank Transnational Incorporated (“ETI”), has notified the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières that it would seek to raise $300 million from the international debt capital markets through the issuance of Tier-2 qualifying Sustainability Notes; pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S.

According to a press statement seen by Business Elites Africa, an equivalent amount of the net proceeds of the Notes will be used to finance or re-finance, in part or in full, new or existing eligible assets in accordance with ETI’s Sustainable Finance Framework. In view of the foregoing, ETI is pleased to notify the Stock Exchanges of the proposed launch of the Notes. ETI intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market.

It should be noted that the issuance of the Notes is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation.

READ our Top 30 African Women Entrepreneurs and Influencers below: