Nigerian Exchange Limited has been notified by Ecobank Transnational Incorporated.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd

Ecobank Transnational Incorporated (“ETI”), the parent company of the Ecobank Group, has notified the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (the “Stock Exchanges”) that it is seeking to raise funds from the international debt capital markets.

This will be done through the issuance of Tier 2 qualifying Nature Notes pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation S (the “Notes”).

The net proceeds of the issue of the Notes will be deployed to finance the concurrent any-and-all tender offer of the ETI U.S.$350 million 8.750% Tier 2 notes due June 2031.

Source: newsthemegh.com