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    ETI to raise $300m from international capital market

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    Godwin Okaforhttps://naija247news.com
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    Lagos, June 7, 2021 Ecobank Transnational Incorporated (ETI) Plc has announced plans to raise 300 million dollars from the International Debt Capital Markets (IDCM), through the issuance of tier 2 qualifying sustainability notes.

    Ms Adenike Laoye, Group Head, Corporate Communications/Chief of Staff to the Group’s Chief Executive Officer, disclosed this in a notice posted on the Nigeria Exchange (NGX) Ltd on Monday in Lagos.

    ETI is the parent company of the Ecobank Group, a leading Pan-African banking group with banking operations in 33 countries.

    The notice also sent to the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (Stock Exchanges) said the issuance was in pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation.

    ETI said it was seeking to raise 300 million dollars from the IDCM through the issuance of tier 2 qualifying sustainability notes pursuant to the United States Securities and Exchange Commission Rule 144A and Regulation.

    It said an equivalent amount of the net proceeds of the notes would be used to finance or re-finance, in part or in full, new or existing eligible assets in accordance with ETI’s Sustainable Finance Framework.

    “In view of the foregoing, ETI is pleased to notify the Stock Exchanges of the proposed launch of the notes.

    “ETI intends to list the notes on the London Stock Exchange, with the expectation that the notes will be traded on its regulated market.

    “It should be noted that the issuance of the notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation,” the notice said

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