Ecobank At London Stock Exchange, Lauds Successful Listing of $500m Eurobond


Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (‘ETI’), the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange (LSE) main market.

The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa. It follows on from Ecobank’s 2017 convertible bond issuance on the International Securities Market.

The five-year senior unsecured notes, which mature in April 2024, were launched with a coupon interest rate of 9.50 percent per annum payable semi-annually in arrears.

Ade Ayeyemi, Group CEO of Ecobank said: “The successful issuance of our inaugural Eurobond on the main London market demonstrates international investors’ approval and confidence in Ecobank’s long-term strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.”

 Ayo Adepoju, Acting Group CFO of Ecobank commented: “Ecobank places great emphasis on constantly reviewing our capital allocation strategies to ensure that we have the right strategic positioning, competitive advantages, products and resources to increase efficiency and profitability. Our access to international capital markets are part of the mix and enable us to boost our liquidity profile, refinance maturing facilities and strengthen our foundations to ensure long-term sustainable growth and profitability for all our stakeholders.”


ETI will use the net proceeds of the placement for general corporate purposes including the refinancing of maturing debt facilities.

Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond.

Photo Caption:(L-R) Paul-Harry Aithnard,  Managing Director, Ecobank  Cote d’Ivoire; Mr. Alexis Aquereburu, Advisor to the President of Togo; Kodjo Adedze, Minister of Trade, Industry and Private sector promotion, Togo; Ade Ayeyemi, Group Chief Executive Office Ecobank Transnational Incorporated; Emmanuel Ikazoboh, Chairman, Ecobank Transnational Incorporated; Darko Hajdukovic, Head of Multi-Asset Primary Markets and Investment Funds at London Stock Exchange  during the opening of the London Stock Exchange by the ETI Group Chairman and CEO after successful $500 million Eurobond issuance on Friday