Tuesday, 9 September 2014

News Release: Ecobank’s $200 Million Afreximbank-Supported Bond Issuance Concludes

With advisory services provided by the African Export-Import Bank (Afreximbank), leading Nigerian bank and member of the Ecobank Group, Ecobank Nigeria, has successfully concluded a highly-anticipated $200 million bond issuance aimed at raising needed capital for its operations.

The publicly place coupon bonds, which were listed on the Irish Stock Exchange, attracted an oversubscription from investors.

In mandating Afreximbank to advise it on the bond issuance, Ecobank assigned the trade finance bank with the responsibility to assist in preparing documentation for the transaction as well as preparing Ecobank’s presentations to potential investors and arranging investor road shows.

Afreximbank’s was also tasked with the marketing and placement of the securities to be initially issued under the transaction.

“Afreximbank’s support for this transaction is part of our continuing effort at leveraging funds into Africa to finance trade activities,” said Jean-Louis Ekra, President of Afreximbank. “We remain fully committed to providing African financial institutions with much-needed access to the international financial market to enhance their capacity to support economic growth in Africa.”

Deutsche Bank and Standard Chartered Bank were the joint lead managers on the transaction while Afreximbank, Ecobank Capital and Nedbank Capital served as co-lead managers.

Obi Emekekwue
Afreximbank External Communications

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