Cairo, Egypt, 26 May 2025: –African Export-Import Bank (Afreximbank) through its Advisory and Capital Markets Department has successfully acted as Joint Lead Manager on a RegS-only tap reopening of outstanding Ecobank Transnational Incorporated’s (ETI) US$ 400-million 10.125 per cent Oct-2029 notes for an additional amount of US$ 125 million listed on the London Stock Exchange.
ETI intends to use the tap proceeds to fund general corporate purposes, including refinancing of upcoming maturities. The tap was two times oversubscribed off diverse investor orderbook driven by commercial banks, development finance institutions and asset managers from Africa, the United Kingdom, Europe and the Middle East.
Strong investor demand during intraday bookbuilding enabled ETI to price the tap with a reoffer yield of 9.375 per cent, representing a 100-basis point tightening versus the original issuance placed in October 2024.
Afreximbank, through its Advisory and Capital Markets department, acted as Joint Lead Manager to ETI on the tap transaction alongside other international banking partners.
ETI is a leading pan-African banking group with presence in 35 African countries, serving more than 32 million customers with demonstrated track record in international capital markets.
ENDS
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
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