Ecobank  repays $500 million Eurobond 



In a testament to Ecobank Transnational Incorporated’s (ETI) financial strength, the firm successfully repaid its maturing $500 million 5-year Eurobond on Thursday.

A statement from the company said this bond, which marked its inaugural Eurobond issuance in April 2019, was warmly received by a diverse group of global investors, including the bank’s esteemed long-term development partners, FMO and Proparco, who acted as anchor investors to the issuance.

The statement said it was listed on the main market of the London Stock Exchange with a coupon rate of 9.5%.

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The principal and interest repayment, totalling $524 million, was distributed to bondholders through the transaction agent on the bond maturity date of April 18, 2024.

Ayo Adepoju, Ecobank Group’s CFO, said, “This inaugural bond we are retiring today was critical in introducing our firm to a wider array of global investors and contributed to the increased visibility of our brand in the capital markets.

“When viewed against the backdrop of the difficult operating environment that characterized most of 2023 and is still being felt today – particularly the disruptions in the world supply chain and global financial markets – the Group continues to show resilience through strong liquidity, a robust balance sheet, and a solid leadership team.”

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