The bank last week priced its $300m London-listed bond maturing in February 2026. The issue was more than three times oversubscribed and drew “significant” international interest, says Akinwuntan.
“The strength and depth of the book demonstrated global investors’ strong appetite for the Ecobank franchise in Nigeria.”
The sale shows that appetite for corporate African debt has survived the Zambia sovereign debt default in November 2020.
Ecobank Nigeria is the largest single-country operation of the Ecobank Group, which operates in 33 African countries.