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December 22, 2024


TOP AFRICA NEWS

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ECOBANK TRANSNATIONAL INCORPORATED SIGNS USD 250 MILLION SENIOR BRIDGE-TO-BOND
LOAN FACILITY LED BY AFREXIMBANK AND AFRICA FINANCE CORPORATION TO SUPPORT TRADE
AND GENERAL CORPORATE PURPOSES

9 months ago TOPAFRICANEWS


LOMÉ, Togo, March 12, 2024/ — Ecobank Transnational Incorporated (ETI) has
signed a USD 250 million senior unsecured bridge-to-bond Loan Facility with The
African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC)
acting as Global Coordinators and Initial Mandated Lead Arranger. This loan
facility aims to support trade finance and the general corporate purposes of the
group. Mashreqbank psc. joined the transaction as a mandated lead arranger. The
facility has a tenor of twelve months, with a six-month extension option at the
lenders’ discretion. 

The bridge-to-bond loan also comprises an accordion feature that enables an
increase in the total commitments under this facility within a given timeframe.

Ayo Adepoju, Ecobank’s Group CFO, commented, “We are very excited about this new
facility, which provides additional liquidity buffers for the bank. The firm’s
continued ability to demonstrate market support and, in particular, diversify
its funding sources under challenging economic conditions reflects credibility
that has been purposefully built in the market and across the African continent
over many years.” While commending the commitment of the teams that worked on
the facility, he recognised the continued efforts to build strong partnerships,
as well as the leadership provided by the Lead Arrangers. 


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