ECOBANK LOAN FACILITY OVER SUBSCRIBED.

The quest of Ecobank Transnational loan facility to "maintain base with diversified strong market" has closed oversubscribed.

According to Greg Davis, the Group Financial officer of the parent body of all Ecobank brands in Africa, the facility was originally for $150m through Deutsche Bank but had to be increased to $200m when $268.5m subscription was received.

The facility is for a short period and is due for repayment by November 2019.

The syndicated loan was requested for by Togo based Ecobank Transnational Incorporated ( ETI) through a mandate given to Deutsche Bank to put it together.

ETI is the parent body of Ecobank subsidiaries currently in 36 African countries. It is present in some 40 countries with 1200 subsidiaries and offices, says the GFO, that currently employs over 20,000 persons.

ETI is quoted on 2 of the 3 stock exchanges presently reviewed by Henates: Nigerian Stock Exchange and Ghana Stock Exchange.

However, at the Ghana stock market ETI is quoted alongside its Ecobank Ghana subsidiary and priced separately.

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