Ecobank Facility Oversubscribed by $268.5 Million

• Ecobank Facility Oversubscribed by $268.5 Million

The Lome-based parent company of the Ecobank Group, Ecobank Transnational Incorporated, said investors oversubscribed for its $200 million loan facility.

A statement signed by Greg Davis, the Chief Financial Officer, showed the loan facility was oversubscribed by $268.5 million.

Davis, who announced the closure of the syndicated loan facility, said the oversubscription increased Deutsche Bank’s mandate as an arranger from $150 million to $200 million.

He further stated that the loan would be due for payment in November 2019.

The facility supported ETI’s goal of maintaining a diversified funding base with strong market access.