Ecobank Transnational ETI Launches Tier 2 Nature Notes Offering
Ecobank Transnational Incorporated (ETI) has notified the Nigerian Exchange Limited, Ghana Stock Exchange, and BRVM of its intention to issue Fixed Rate Reset Tier 2 Nature Notes in the international debt capital markets. The proceeds will be used to fund a tender offer on its existing $350 million 8.750% Tier 2 notes due June 2031, with net proceeds allocated to eligible assets under its Green Bond Framework.
Ecobank Transnational Incorporated (ETI) filed a corporate action notice on May 7, 2026, informing the Nigerian Exchange Limited and two other stock exchanges of a proposed issuance of Fixed Rate Reset Tier 2 Nature Notes in the international debt capital markets.
The Notes will be issued under the United States Securities and Exchange Commission Rule 144A and Regulation S. ETI disclosed that the net proceeds from the issuance will be deployed to finance a concurrent any-and-all tender offer targeting its existing U.S.$350 million 8.750% Tier 2 notes due June 2031.
In addition, ETI stated it will allocate an amount equivalent to the full net proceeds to finance or re-finance new and/or existing eligible assets as defined under its Green Bond Framework, which is available on the Ecobank sustainability webpage.
ETI intends to list the Notes on the London Stock Exchange, where they are expected to trade on its regulated market. The company noted that completion of the transaction remains subject to prevailing market conditions and the finalisation of transaction documentation. The announcement was signed by Group Executive Director and CFO, Ayo Adepoju, Ph.D.
