Ecobank Transnational Incorporated (ETI) has announced plans to raise fresh funds from the international debt capital market through the issuance of Tier 2 qualifying Nature Notes.
The bank disclosed this in a statement released on Thursday and signed by its Group Executive Director and Chief Financial Officer, Ayo Adepoju.
According to the statement, the funds will be raised under the United States Securities and Exchange Commission Rule 144A and Regulation S framework.
Ecobank stated that the proceeds from the planned issuance would primarily be used to finance the buyback of its existing $350 million 8.750% Tier 2 notes, due in June 2031.
“The net proceeds of the issue of the Notes will be deployed to finance the concurrent any and all tender offer of the ETI U.S.$350 million 8.750% Tier 2 notes due June 2031,” the company stated.
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The lender also said the funds would support green and sustainable financing projects under its Green Bond Framework.
“ETI will allocate an amount equivalent to the full net proceeds of the issue of the Notes to finance or refinance, in part or in full, new and/or existing eligible assets as described in ETI’s Green Bond Framework,” it stated.
Ecobank said it plans to list the new notes on the London Stock Exchange, where the securities are expected to trade on the regulated market.
However, the bank noted that the transaction remains subject to market conditions and the completion of the required documentation.
The announcement was also sent to the Nigerian Exchange Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières.
Pinnacle Daily earlier reported that Ecobank’s 2025 financial results showed rising credit pressure despite growth in lending.
Gross loans climbed to about $12.8 billion, while impaired Stage 3 loans remained high at roughly $1.2 billion, highlighting continued stress in parts of the bank’s loan portfolio.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X