Ecobank Set to Raise Capital with US Dollar-Denominated Senior Unsecured Notes Offering

Ecobank Transnational Incorporated, a leading pan-African banking group with presence in 35 African countries has announced plans to raise funds through issuance of 5-year US dollar-denominated senior unsecured notes.

In the regulatory filing obtained by Investors King, Ecobank said it has mandated Absa, Africa Finance Corporation, African Export-Import Bank, Mashreq and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners.

The group also appointed Renaissance Capital Africa as Financial Adviser to organise a Global Investor Call as well as a series of fixed investor calls and meetings commencing on Monday 30 September 2024.

According to the lender, this will be followed by a 144A/RegS US$-denominated benchmark 5-year senior unsecured notes offering.

The notes are expected to be rated B- by S&P and B3 by Moody’s, said Ecobank.

Ecobank Transnational Inc. is a leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.