{"id":47076,"date":"2021-02-26T20:11:08","date_gmt":"2021-02-26T19:11:08","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=47076"},"modified":"2021-02-26T20:11:08","modified_gmt":"2021-02-26T19:11:08","slug":"london-stock-exchange-welcomes-ecobank-nigerias-senior-bond-issuance","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/london-stock-exchange-welcomes-ecobank-nigerias-senior-bond-issuance\/","title":{"rendered":"London Stock Exchange Welcomes Ecobank Nigeria\u2019s Senior Bond Issuance"},"content":{"rendered":"<p class=\"yiv8038236585MsoNormal\">\n<p class=\"yiv8038236585MsoNormal\">Ecobank Nigeria on Thursday opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured US$300 million bond.<\/p>\n<p class=\"yiv8038236585MsoNormal\">Ecobank Nigeria, a subsidiary\u00a0 of Ecobank Transnational Incorporated, the parent company of the\u00a0 Ecobank Group, provides the full suite of banking products, services and solutions through multiple channels to retail, commercial, corporate and public sector customers.<\/p>\n<p class=\"yiv8038236585MsoNormal\">The bond carries a coupon rate of 7.125%, significantly below its Initial Price Thoughts of 7.75%. The successful launch was three times oversubscribed and is the lowest\u00a0 coupon\/yield by a Nigerian financial institution for a benchmark bond transaction since 2013. It has an Issuer Rating of B- from Fitch Rating Agency and S &amp; P. Citi, Mashreq, Renaissance Capital and Standard Chartered Bank acted as Joint Lead Managers and Bookrunners.<\/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 class=\"yiv8038236585MsoNormal\">The proceeds will\u00a0\u00a0provide medium term funding and help to enhance the capacity of the Bank\u00a0to support international trade and service across Africa.<\/p>\n<p class=\"yiv8038236585MsoNormal\">Patrick Akinwuntan, Managing Director, Ecobank Nigeria: \u201cThe strong demand for our bond shows the international appetite for the Ecobank franchise in Nigeria, its unique positioning for facilitating pan-Africa trade and\u00a0 the attractive opportunity for the many investors seeking to back world-class Nigerian corporates.\u201d<\/p>\n<p class=\"yiv8038236585MsoNormal\">\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Ecobank Nigeria on Thursday opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its five-year fixed rate senior unsecured US$300 million bond.<!-- 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":6,"featured_media":12093,"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":[8261],"coauthors":[2391],"class_list":["post-47076","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-ecobank-nigeria-bond-on-london-exchange"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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