Connecting African Growth with Global Capital

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.