Ecobank Transnational Incorporated (NGX: ETI), has announced plans to tap the international debt capital markets with a new issuance of Fixed Rate Reset Tier 2 Nature Notes.
In a statement released on Wednesday, the pan-African lender said it intends to issue the Notes under the United States Securities and Exchange Commission’s Rule 144A and Regulation S.
This forms part of ETI’s strategy to strengthen its capital base while supporting sustainable financing initiatives across the continent.
The net proceeds from the proposed issuance will be used primarily to fund a concurrent any-and-all tender offer for the bank’s outstanding U.S.$350 million 8.750% Tier 2 notes due June 2031.
Additionally, an amount equivalent to the full net proceeds will be allocated to finance or refinance eligible green and sustainable assets in line with ETI’s Green Bond Framework.
“This transaction reflects ETI’s continued focus on optimizing its capital structure and advancing its sustainability agenda,” the bank said.
ETI plans to list the new Notes on the London Stock Exchange, where they are expected to be admitted to trading on the regulated market.
However, the bank cautioned that the deal remains subject to prevailing market conditions and the successful completion of transaction documentation.
About the company
Ecobank Group operates in 34 African countries, serving over 30 million customers through consumer, commercial, and corporate banking services.
ETI is listed on three major African exchanges: the Nigerian Stock Exchange in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan.
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