Ecobank Transnational Incorporated announced on Friday that its subsidiary, Ecobank Nigeria Limited, is seeking to raise capital from the international debt capital market through the issuance of $300 million senior notes.
The pan-African banking group said in a statement that the proceeds of the Eurobond would provide medium-term funding and help to enhance the capacity of the bank to support international trade and service in Africa.
It said the notes, which would be issued through a Dutch special purposes funding vehicle, would be listed on the London Stock Exchange to be traded on its regulated market.
“The Central Bank of Nigeria has confirmed that it has no objection to the transaction. It should be noted that the transaction is subject to prevailing market conditions and the conclusion of the necessary Transaction documentation,” Ecobank said.