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Ecobank Nigeria prices USD 300 million LSE-listed notes
Published by: Sandy Bhadare at 17/02/2021 The Nigerian commercial bank has announced the pricing of USD 300 million senior unsecured bonds, which w.
The Nigerian commercial bank has announced the pricing of USD 300 million senior unsecured bonds, which will be listed on the London Stock Exchange.
Ecobank Nigeria’s fixed-rate United States dollar-denominated bonds, due in five years, will be listed on the
London Stock Exchange (LSE), with settlement of the bond to take place today.
The offering is the first non-sovereign issue to take place in Africa this year and is a landmark capital raise for the Nigerian banking sector. It will give Ecobank access to global debt capital markets and more promising credit terms.
Ecobank Nigeria (“ENG” or “the Bank”) (www.Ecobank.com/ng), a wholly owned subsidiary of leading pan-African banking giant, Ecobank Transnational Incorporated (‘ETI’), the parent company of the Ecobank Group, announced that it has successfully priced its USD 300 million bond issuance maturing in February 2026, with settlement of the bond to take place on 16 February 2021. […]
With global capital markets huffing to a gingerly start in 2021 investments in equities and fixed income securities are off to a bright start, even in frontier economies such as Nigeria.
Indeed, nudging aside COVID-19-induced economic disruptions, Renaissance Capital, has led the recent foray into the international debt market on behalf of Ecobank Nigeria, part of the Ecobank Transnational Incorporated (ETI) Holding group.
Key highlights of the transaction are presented below:
Highlights: Braving A New Global Debt Market
On the 10th of February 2021, Ecobank Nigeria successfully locked into the international debt market with a US$300m 5-year 7.125% Reg S / 144A senior unsecured bond issue. The lead runner of the Offers book was Renaissance Capital which also acted as the joint lead manager of Offer