Ecobank Nigeria, a wholly owned subsidiary of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has successfully priced its $300m bond issuance maturing in February 2026, with settlement of the bond to take place on February 16, 2021.
The fixed-rate, US dollar-denominated bond, with a tenor of five years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange.
It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S&P.
The coupon / yield represents the lowest ever coupon / yield achieved by a Nigerian financial institution for a benchmark bond transaction.
At the peak of marketing the transaction, the issue was over three times oversubscribed, with significant interest from international investors.
February 11, 2021 – Ecobank Nigeria, a wholly-owned subsidiary of 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 the settlement of the bond to take place on 16 February 2021.
The fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S & P., The coupon/yield represents the lowest ever coupon/yield achieved by a Nigerian financial institution for a benchmark bond transaction.
February 10, 2021 – Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, announces the co-option to its Board of Directors of Hervé S. Assah, as Independent Non-Executive Director from the CEMAC Region.
Hervé S. Assah is a national of Congo Brazzaville with almost four decades’ experience as a senior executive in various fields, including investment and financial advisory, global trade development, public-private partnerships in emerging markets, regional development and business strategy amongst others.
Ecobank announces Hervé Assah as new Non-Executive Director
He is Managing Partner of Aequaria Capital, a fund management company focused on growth companies in sub-Saharan Africa.
For over 20 years, Mr. Assah held senior roles at the World Bank including Lead Private Sector Development Specialist in the Finance Competitiveness & Innovation Global Practice; Country Manager and Resident Representative for Togo; Senior Private Sector Development
TODAY
February 11, 2021
Pan-African banking conglomerate, Ecobank Transnational Incorporated, has announced the appointment of an independent of non-executive director, Hervé S. Assah.
Mr Assah, who comes from the Central African Economic and Monetary Community region, is a national of Congo Brazzaville.
His experience as a senior executive approaches 40 years and spans fields as diverse as investment and financial advisory, regional development, public private partnerships in emerging markets, global trade development and business strategy among others, according to a press statement.
A managing partner of the fund management firm Aequaria Capital, Mr Assah held senior positions for more than two decades at the World Bank, including Country Manager and Resident Representative for Togo and Lead Private Sector Development Specialist in the Finance Competitiveness & Innovation Global Practice.