Ecobank Gets Unsecured Loan Facility

Ecobank Transnational Incorporated (ETI) has notified The Nigerian Stock Exchange that it has received a one-year senior unsecured loan facility of $285,000,000 from Deutsche Bank AB.

According to ETI, it appointed Deutsche Bank to be Initial Mandated Lead Arranger, Book-runner and Facility Agent, together with a syndicate of international banks to arrange this financing. Deutsche Bank has successfully closed primary syndication with an over-subscribed order book. The final size of the facility was maintained at $285,000,000.

ETI stated that it worked with Deutsche Bank on this transaction in view of the latter’s strong distribution platform and rapid execution capabilities. ETI will use the loan facility to refinance existing loans.