ETI EURO BOND OVERSUBSCRIBED, SAYS GFO.

The Group Financial Officer for Ecobank Transnational Incorporated Greg Davis, has affirmed that the group's $450m euro bond issued at the London Stock Exchange main market was oversubscribed.

In a notice He issued on Thursday before the Easter, Davis failed to give the % oversubscription but confirmed that it was embraced globally by investors from the UK, US, Europe, Middle East, Asia and Africa.

The 5 year unsecured note was issued at 9.5% interest rate payable semiannually in areas.

The money was raised for general  corporate purposes, added Davis and for refinancing of existing obligations.

He quoted the Group CEO, Ade Adeyemi as saying of the bond's successful outing:
"This is first for Ecobank and I am excited at the prospects of the group as we continue to the second phase of our 5 year roadmap to leadership strategy".

On his part, Davis described it as a reflection of the appetite of high quality and real money institutional investors globally and trust that continues to be conferred on ETI.

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