Ecobank seeks to raise $300m from debt markets

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Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has said it is seeking to raise $300m from the international debt capital markets.

ETI said in a statement on Monday that the money would be raised through the issuance of tier-2 qualifying sustainability notes pursuant to the United States Securities and Exchange Commission Rule 144A and Regulations.

It said, “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.

“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.”

SOURCE: PUNCH

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