Cairo, 09 September 2014 – With advisory services provided by the African Export-Import Bank (Afreximbank), leading Nigerian bank and member of the Ecobank Group, Ecobank Nigeria, has successfully concluded a highly-anticipated $200 million bond issuance aimed at raising needed capital for its operations.
The publicly place coupon bonds, which were listed on the Irish Stock Exchange, attracted an oversubscription from investors.
In mandating Afreximbank to advise it on the bond issuance, Ecobank assigned the trade finance bank with the responsibility to assist in preparing documentation for the transaction as well as preparing Ecobank’s presentations to potential investors and arranging investor road shows.
Afreximbank’s was also tasked with the marketing and placement of the securities to be initially issued under the transaction.
“Afreximbank’s support for this transaction is part of our continuing effort at leveraging funds into Africa to finance trade activities,” said Jean-Louis Ekra, President of Afreximbank. “We remain fully committed to providing African financial institutions with much-needed access to the international financial market to enhance their capacity to support economic growth in Africa.”
Deutsche Bank and Standard Chartered Bank were the joint lead managers on the transaction while Afreximbank, Ecobank Capital and Nedbank Capital served as co-lead managers.
——–
About Afreximbank:
The African Export-Import Bank (Afreximbank) is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, Afreximbank has approved almost $30 billion in credit facilities for African businesses, including about $3.5 billion in 2013. Afreximbank is headquartered in Cairo. For more information, visit: www.afreximbank.com