Ecobank Transnational Incorporated (ETI), has successfully raised $350 million from the issuance of Tier 2 Sustainability Notes.
The Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa and will be listed on the main market of the London Stock Exchange (LSE).
The bond, which has a maturity period of 10 years – matures in June 2031 – has a call option in June 2026 and was issued with a coupon of 8.75% with interest payable semi-annually in arrears.
According to ETI, proceeds from the notes will be used to finance or re-finance, new or existing eligible assets described in the ETI’s Sustainable Finance Framework.
Read below details of the press release:
pdf (1) by Fuaad Dodoo on Scribd
Source: norvanreports
