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LONDON - Ecobank Transnational Incorporated has issued $125 million in notes with a 10.125% interest rate, maturing on October 15, 2029. The issuance, which took place on May 22, 2025, is intended to be consolidated with the existing $400 million notes that were issued on October 15, 2024, under the same terms.
The notes have been approved by the United Kingdom (TADAWUL:4280) Financial Conduct Authority, and the related prospectus was dated May 20, 2025. The prospectus provides detailed information on the notes and the terms of the issue.
According to the information provided, these notes will not be registered under the United States Securities Act of 1933, as amended, known as the "Securities Act." Therefore, the offering will be conducted in offshore transactions in accordance with Regulation S under the Securities Act, targeting non-U.S. persons.
The communication regarding the notes is directed at a specific audience, including persons outside the United Kingdom, investment professionals, high net worth entities, and other individuals who fall within the categories outlined by the UK’s Financial Services and Markets Act 2000.
Ecobank Transnational Incorporated is targeting eligible counterparties and professional clients only, as defined by UK MiFIR product governance, for the distribution of these notes.
This financial move by Ecobank comes as part of its debt management strategy, aiming to streamline its existing debt obligations for efficiency. The company has not publicly commented on the expected impact of the consolidation on its financial health or future prospects.
The information regarding the issue of notes and the publication of the prospectus is based on a press release statement and has been disseminated by RNS, the news service of the London Stock Exchange (LON:LSEG).
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