Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Nigeria
  4. Nigerian Stock Exchange
  5. Ecobank Transnational Incorporated
  6. News
  7. Summary
    ETI   TG0000000132

ECOBANK TRANSNATIONAL INCORPORATED

(ETI)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Ecobank Transnational Incorporated : successfully launches US$350 million 10NC5 year Tier 2 Sustainability Notes

06/11/2021 | 12:28pm EDT

Ecobank Transnational Incorporated ("ETI"), the Lomé based parent company of the Ecobank Group (www.Ecobank.com), is pleased to announce that it has successfully raised US$350 million Tier 2 Sustainability Notes. This represents the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa.

This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on the main market of the London Stock Exchange. The bond, which matures in June 2031, has a call option in June 2026 and was issued with a coupon of 8.75% with interest payable semi-annually in arrears.

An equivalent amount of the net proceeds from the notes will be used by ETI to finance or re-finance, new or existing eligible assets as described in ETI's Sustainable Finance Framework, available at https://ecobank.com/group/sustainability-finance-framework on which DNV has issued a Second Party Opinion.

Investor interest for this Sophomore Eurobond issue was global, including United Kingdom, United States, Europe, the Middle East, Asia and Africa, achieving a 3.6x oversubscribed orderbook, of over US$1.3 billion at its peak.

The transaction was anchored at the start by Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. ("FMO"), a Dutch development bank, with a committed US$50 million order.

Ade Ayeyemi, Group Chief Executive Officer of ETI, stated: "This is a landmark issue for Ecobank, and indeed the success of this first Sustainable Tier 2 issuance is testament to our clear strategy, solid positioning across the pan-African banking space as well as our deliberate and long term focus on sustainable initiatives. We are particularly pleased with the diverse orderbook which reflects the confidence investors have in Ecobank to deliver on our commitment to sustainable financing".

The Joint Lead Managers & Bookrunners in the transaction were Citi, Mashreq, Renaissance Capital and Standard Chartered Bank.

Distributed by APO Group on behalf of Ecobank.

Media Contact:

Adenike Laoye

Group Head, Corporate Communications/ Chief of Staff to the Group Chief Executive Officer

Email: groupcorporatecomms@ecobank.com

Tel: +228 22 21 03 03

About Ecobank Transnational Incorporated ('ETI' or 'The Group'):

Ecobank Transnational Incorporated ('ETI') is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs over 14,000 people and serves about 29 million customers in the consumer, commercial and corporate banking sectors across 33 African countries. The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates. The Group offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan. For further information please visit www.Ecobank.com.

.

(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
ECOBANK GHANA LIMITED 0.00% 7 End-of-day quote.-2.78%
ECOBANK TRANSNATIONAL INCORPORATED 1.90% 5.35 End-of-day quote.-10.83%
All news about ECOBANK TRANSNATIONAL INCORPORATED
07/27ECOBANK TRANSNATIONAL INCORPORATED : Over 200 graduates emerge from the Ecobank ..
PU
07/27ECOBANK TRANSNATIONAL INCORPORATED : 1H 2021 Earnings Presentation PDF 1.28 MB
PU
07/27ECOBANK TRANSNATIONAL INCORPORATED : 1H 2021 Earnings Presentation
PU
07/26ECOBANK TRANSNATIONAL INCORPORATED : 1H 2021 Financial Results
PU
07/26ECOBANK TRANSNATIONAL INCORPORATED : Q2 2021 gse pdf 1.22 mb
PU
07/26ECOBANK TRANSNATIONAL INCORPORATED : Q2 2021 nse pdf 1.31 mb
PU
07/26ECOBANK TRANSNATIONAL INCORPORATED : 1H 2021 Financial Results PDF 287.09 KB
PU
07/26Ecobank Transnational Incorporated Reports Earnings Results for the Second Qu..
CI
07/22Ecobank Group and Microsoft Upskill Africa's Small and Medium Enterprises to ..
AQ
07/22Ecobank Group and Microsoft Upskill Africa’s Small and Medium Enterpris..
AQ
More news
Financials (USD)
Sales 2021 1 613 M - -
Net income 2021 202 M - -
Net Debt 2021 - - -
P/E ratio 2021 2,00x
Yield 2021 -
Capitalization 320 M 320 M -
Capi. / Sales 2021 0,20x
Capi. / Sales 2022 0,18x
Nbr of Employees 13 551
Free-Float 33,6%
Chart ECOBANK TRANSNATIONAL INCORPORATED
Duration : Period :
Ecobank Transnational Incorporated Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 0,01 $
Average target price 0,02 $
Spread / Average Target 44,0%
EPS Revisions
Managers and Directors
Ade Ayeyemi Group Chief Executive Officer & Executive Director
Ayo Adepoju Group Chief Financial Officer
Alain Francis Nkontchou Chairman
Eddy Ogbogu Group Executive-Operations & Technology
Catherine W. Ngahu Independent Executive Director