London Stock Exchange welcomes Ecobank Nigeria celebrating its bond issuance

Ecobank Nigeria has today opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured US$300 million bond.

Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, the parent company of the  Ecobank Group, provides the full suite of banking products, services and solutions through multiple channels to retail, commercial, corporate and public sector customers.

The bond carries a coupon rate of 7.125%, significantly below its Initial Price Thoughts of 7.75%. The successful launch was three times oversubscribed and is the lowest coupon/yield by a Nigerian financial institution for a benchmark bond transaction since 2013. It has an Issuer Rating of B- from Fitch Rating Agency and S & P. Citi, Mashreq, Renaissance Capital and Standard Chartered Bank acted as Joint Lead Managers and Bookrunners.
 
The proceeds will provide medium term funding and help to enhance the capacity of the Bank to support international trade and service across Africa.

Patrick Akinwuntan, Managing Director, Ecobank Nigeria said: “The strong demand for our bond shows the international appetite for the Ecobank franchise in Nigeria, its unique positioning for facilitating pan-Africa trade and the attractive opportunity for the many investors seeking to back world-class Nigerian corporates.”
 

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
18 Feb 2021
Looking for new and recent issues?

More recent

106.12
London Stock Exchange welcomes Ecobank Transnational Incorporated’s debut Sustainable Bond to the Sustainable Bond Market

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, today opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its $350 million 10NC5 Tier 2 Sustainability Notes issuance.

Through its affiliates across 33 sub-Saharan African countries and its international bank in Paris, Ecobank provides the full suite of banking produ

Learn more
108.6
London Stock Exchange welcomes Victorian Plumbing Group plc to AIM

London Stock Exchange today welcomes Victorian Plumbing Group plc (Group or Company), the UK’s leading online retailer of bathroom products and accessories , to AIM under the ticker “VIC”.
 
Headquartered in Skelmersdale, Lancashire, the Group employs over 500 colleagues across seven locations in Skelmersdale, Manchester and Birmingham.
 
Victorian Plumbing

Learn more
London Stock Exchange welcomes Spectral MD Holdings, Ltd. to AIM

London Stock Exchange today welcomes Spectral MD Holdings, Ltd. (“Spectral MD” of the “Company”) (AIM: SMD) a predictive analytics group that develops proprietary AI algorithms and optical technology for faster treatment decisions in wound care, headquartered in Dallas, Texas, U.S.A. 

Using its DeepView® Wound Imaging Solution, an internally developed AI technology and multispect

Learn more
119.28
London Stock Exchange welcomes Thor Explorations to AIM

London Stock Exchange welcomes Thor Explorations, a West African focussed gold company to AIM under the ticker “THX”. The Company will be trading its common shares and has a market capitalization of circa. £135 million at admission. The listing is supplementary to the Company's listing on the TSX-V in Canada. 

Thor Explorations, which will shortly commence gold production at

Learn more