Ecobank to launch US$300m fixed rate reset tier-2 sustainability notes
Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, the leading Pan-African banking group with banking operations in 33 countries has notified the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières that it is seeking to raise US$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.
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 said it 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”, a statement issued from its Lome headquarters said on Monday, 7 June 2021.
“It should be noted that the issuance of the Notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation”, the statement said.
Source: classfmonline.com
Trending News
Surrender Ghana to the Lord – Alan to Akufo-Addo gov't
13:42Economist Bernard Oduro Takyi leads campaign to bolster NDC's electoral prospects in Bono East Region
15:06Ghana's Supreme Court clears way for dual citizens to hold key public positions
20:28Supreme Court declares as unconstitutional parliament’s approval of salaries, allowances for first lady, veep's wife
14:33Economist adopts 13 constituencies to bolster NDC's chances in 2024
13:29‘Maturity, patriotism, love for humanity’ are all we need for peaceful 2024 polls – IGP
14:08Power challenges over in next few days: Herbert Krapa
08:13Galamsey: Five Burkina Faso nationals caged 20 years each for mining
09:31'It's disrespectful!' – Asogli State tackles gov't's 'no-consultation' move to rename Ho Tech. Uni. after Ephraim Amu
13:23Mahama coming back because Akufo-Addo has failed – Ayariga
14:10