29.2 C
Lagos
Thursday, May 26, 2022

spot_img

ETI plans $300 mln bond issuance to refinance debt

Ecobank Transnational Incorporated (ETI), the pan-African banking group said it plans to raise $300 Million from the international debt capital markets through the issuance of Tier 2 qualifying Sustainability Notes.

The debt issuance, the lender said was in pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S (the
“Notes”).

In a regulatory filing with Nigerian Exchange Group (NGX) and two other region bourse, the bank said 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 is pleased to notify the Stock Exchanges of the proposed launch of the Notes.

READ ALSO: President Buhari holds security council meeting

“ETI intends to list the Notes on the London Stock Exchange, with the expectation that the Notes will be traded on its regulated market,” the bank said in the regulatory statement.
It said that the “issuance of the Notes (the “Transaction”) is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation.”

Latest news
- Advertisement -spot_img
Related news