{"id":32474,"date":"2019-06-07T15:28:06","date_gmt":"2019-06-07T14:28:06","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=32474"},"modified":"2019-06-07T15:28:06","modified_gmt":"2019-06-07T14:28:06","slug":"london-stock-exchange-plays-host-to-ecobank-after-500m-eurobond-issuance","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/london-stock-exchange-plays-host-to-ecobank-after-500m-eurobond-issuance\/","title":{"rendered":"London Stock Exchange Plays Host To Ecobank After $500m Eurobond Issuance"},"content":{"rendered":"<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong><em>The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (\u2018ETI\u2019) (<a href=\"http:\/\/www.ecobank.com\/\">www.Ecobank.com<\/a>), the Lom\u00e9-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.<\/p>\n<p>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\u2019s 2017 convertible bond issuance on the International Securities Market.<\/p>\n<p>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.<\/p>\n<p>Ade Ayeyemi, Group CEO of Ecobank said: \u201cThe successful issuance of our inaugural Eurobond on the main London market demonstrates international investors\u2019 approval and confidence in Ecobank\u2019s 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.\u201d<\/p>\n<p>Ayo Adepoju, Acting Group CFO of Ecobank commented: \u201cEcobank 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.\u201d<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>ETI will use the net proceeds of the placement for general corporate purposes including the refinancing of maturing debt facilities.<\/p>\n<p>Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>&nbsp; The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (\u2018ETI\u2019) (www.Ecobank.com), the Lom\u00e9-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":32300,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[814,679,2105],"coauthors":[2393],"class_list":["post-32474","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ecobank","tag-eurobond","tag-london-stock-exchange"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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