$300 Million Level 2 Sustainability notes proposed liftoff by the Ecobank Transnational Incorporated
By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The Ecobank Transnational Incorporated – a notable Pan-African banking group and parent company of the Ecobank Group, has published its project to increase $300 million from the international debt capital markets through the allotment of Grade 2
entitling sustainability memoranda.
According to a disclosure endorsed by the Group Head of Corporate Communications, Adenike Laoye, this proposal was conveyed to a host of regional Stock Exchanges that constitutes of the Nigerian Exchange Group Plc (NGX), Ghana Stock Exchange, and the Bourse Regionale des Valeurs Mobilieres.
According to the announcement, ETI aims at to list the Notes on the London Stock Exchange, with the expectation that the Notes will be marketed on its regulated market. Consequence to this, the disbursement of the Notes is thus subject to existing market circumstances and the decision of the essential agreement documentation.
The Banking Group clarified that a comparable percentage of the net earnings of the Notes will be utilized to subsidize or re-finance, in part or full, new or prevailing desirable assets in agreement with ETI’s Sustainable Finance Framework.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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