Ecobank launched its USD 400 million Eurobond issue on the London Stock Exchange on November 20, 2024, marking a strategic turning point for the group. With an interest rate of 10.125%, the issue strengthens Ecobank’s position in the international market and underlines investor confidence in its future plans.
On Wednesday November 20, 2024, Ecobank Transnational Incorporated, the parent company of the Ecobank Group, rang the opening bell on the London Stock Exchange, marking the launch of its USD 400 million Eurobond issue. This historic transaction reflects the Group’s growing ambition to position itself as a major player in global finance.
» So by listing our bond on the London Stock Exchange, it really just amplifies the African opportunity, it amplifies the confidence that investors have in Ecobank and its new strategic plan by giving this five-year senior unsecured Euro bond. «
Jeremy Awori, Chairman and CEO, Ecobank Group – Kenya
The Eurobond, which matures in 2029, offers an attractive interest rate of 10.125% payable semi-annually. This strategic financial transaction is designed to improve Ecobank’s capital structure and strengthen its position in the international capital markets. Investor interest was strong, reflecting the institution’s solidity and credibility.
» So the EcoBank five-year unsecured euro bond is a milestone for us, number one, as a bank. I think it is also an important milestone for financial institutions in Sub-Saharan 2021. So for us, we’re proud to be trailblazing at this point in time and showing that markets are actually indeed open to African financial institutions such as ours. «
Jeremy Awori, Chairman and CEO, Ecobank Group – Kenya
Present in 35 Sub-Saharan African countries and with a strong international presence, Ecobank continues to extend its services to more than 32 million customers. This Eurobond issue is Ecobank Transnational Incorporated’s third on the international bond markets and the first public Eurobond issue by a financial institution in Sub-Saharan Africa since 2021.