Connecting African Growth with Global Capital

SHARE
Facebook
Twitter

Ecobank Transnational Inc. (ETI) required funding to support its operations and refinance maturing debt obligations. In a volatile global environment, accessing international capital markets with a successful outcome demanded both strategic execution and investor confidence.

As Bookrunner, Absa played a pivotal role in enabling ETI’s return to the market through a $125 million tap of its existing $400 million 10.125% Senior Notes due 2029 - originally issued in November 2024. The tap was priced at a yield of 9.375%, effectively lowering ETI’s all-in funding costs and strengthening its capital position.

This landmark transaction marks the first African financial institution issuance in the international markets following the recent US Liberation Day market disruption. It attracted strong demand from a diverse base of global investors - including banks, development finance institutions, and fund managers across Africa, the UK, Europe, and the US.

By leveraging our global fixed income distribution platform, Absa ensured a seamless execution and a robust investor response, reaffirming our ability to bridge African ambition with global capital. This transaction not only supports ETI’s strategic goals but also reflects our continued commitment to unlocking growth, deepening partnerships, and empowering African issuers in global capital markets.

Related Articles

DEALS

Energising Progress with Africa’s Largest Standalone Battery Facility

We are proud to have played a pivotal role in one of Africa’s most significant energy milestones: the Red Sands Battery Energy Storage Project which is set to become the continent’s largest standalone battery energy storage facility to date to move towards construction.

DEALS

Supporting expansion in SA’s healthcare property market

Absa CIB partners with Growthpoint Healthcare Property Holdings on a R950 million facility to finance healthcare infrastructure.

DEALS

Driving Impact Through Purposeful Capital

At Absa Corporate and Investment Banking, we believe that sustainable investment is key to long-term economic resilience. Our support of LeapFrog Investments reflects our belief in creating measurable impact - across ESG, economic, and community outcomes, by backing businesses that are accelerating growth across emerging markets.