The London Stock Exchange recently celebrated the successful listing of the $500m Eurobond issuance by Ecobank Transnational Incorporated (ETI), the Lomé-based parent company of the Ecobank Group on its main market.
The five-year senior unsecured notes, which matures in April 2024, follows from Ecobank’s 2017 convertible bond issuance on the International Securities Market, was oversubscribed with strong demand from international investors in the UK, U.S, Europe, Middle East, Asia and Africa.
ETI plans to use the net proceeds of the placement launched with a coupon interest rate of 9.50% per annum payable semi-annually in arrears, for general corporate purposes including the refinancing of maturing debt facilities.
A statement by the group quoted Ade Ayeyemi, Group CEO of Ecobank as saying “the successful issuance of our inaugural Eurobond on the main London market demonstrates international investors’ approval and confidence in Ecobank’s long-term strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.”
For Ayo Adepoju, Acting Group Chief Finance Officer of Ecobank said the bond is part of the great emphasis it places “on constantly reviewing our capital allocation strategies to ensure that we have the right strategic positioning, competitive advantages, products and resources to increase efficiency and profitability.
“Our access to international capital markets are part of the mix and enable us to boost our liquidity profile, refinance maturing facilities and strengthen our foundations to ensure long-term sustainable growth and profitability for all our stakeholders,” he added.
Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond.

Photo caption: From left to right: Paul-Harry Aithnard, Managing Director, Ecobank Cote d’Ivoire; Mr. Alexis Aquereburu, Advisor to the President of Togo; Kodjo Adedze, Minister of Trade, Industry and Private sector promotion, Togo; Ade Ayeyemi, Group Chief Executive Office, ETI; Emmanuel Ikazoboh, Chairman, Ecobank Transnational Incorporated; Darko Hajdukovic, Head of Multi-Asset Primary Markets and Investment Funds at London Stock Exchange during the opening of the London Stock Exchange by the ETI Group Chairman and CEO after successful $500 million Eurobond issuance on Friday.