Ecobank Transnational Incorporated to raise $50m through bond

Ecobank Transnational Incorporated (ETI) has revealed plans to raise some $50 million through bond issuance in the coming months.

This is contained in a brief signed by its acting Group Chief Financial Officer Ayo Adepoju to the investor community.

Starr Business is learning the proceeds from the bond will be used for the bank’s corporate operations.

The Bank has appointed Deutsche Bank Renaissance Capital Standard Bank and Standard Chartered Bank as joint lead managers for the bond.

Ecobank which has presence in 36 countries across Africa recently reported a profit before tax of 103 million dollars for the first quarter of 2019.

Source: Daily Mail GH

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