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LOMÉ - Ecobank Transnational Incorporated (ETI) announced Tuesday that holders of its $350 million Fixed Rate Reset Tier 2 Sustainability Notes due 2031 have approved an Extraordinary Resolution that was proposed in a consent solicitation process.
The resolution, which was outlined in a consent solicitation memorandum dated September 8, was passed during a noteholder meeting held on Tuesday. Following the approval, ETI confirmed that the Supplemental Trust Deed has been executed and the changes have taken immediate effect.
The bank stated that noteholders who voted in favor of the resolution will receive consent fees around October 2. These payments will be distributed to those who participated by either the Early Participation Deadline of September 24 or the final Expiration Deadline of September 26.
All notes that were blocked for voting purposes during the meeting process will be unblocked "as soon as practicable," according to the company statement.
The $350 million notes were issued as sustainability-linked instruments, though specific details about the changes approved in the Extraordinary Resolution were not disclosed in the press release statement.
ETI, headquartered in Lomé, Togo, operates as a pan-African banking group with presence across multiple African countries. The announcement was made through the London Stock Exchange’s Regulatory News Service (RNS) and was classified as inside information under UK market abuse regulations.
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