The Notes, which mature in October 2029, pay interest of 10.125%, payable semi-annually in arrears.
Ayo Adepoju, Chief Financial Officer, Ecobank Group commented: “We really appreciate the support and partnership from Absa, Africa Finance Corporation, African Export-Import Bank, Mashreq, and Standard Chartered Bank, who acted as Joint Lead Managers and Joint Bookrunners, and Renaissance Capital Africa, who served as the Financial Adviser for the transaction. We deeply value and appreciate the strong support from our Development Finance Institution partners, including the Africa Finance Corporation, Proparco, and the Eastern and Southern African Trade and Development Bank, who helped anchor the transaction. We also thank our bond investors for their ongoing support of ETI and look forward to continuing our engagement and working together to successfully execute our business strategy.”
Members of the ETI board and management attended the London Stock Exchange to celebrate the successful issuance of the bond.