Finance
Ecobank secures $250m facility
Ecobank Transnational Incorporated said in a statement that it has signed a $250 million senior unsecured loan facility. Ecobank Transnational Incorporated, ETI, the Lome-based parent company of the Ecobank Group, reported to the Nigerian Stock Exchange that it signed a five-year senior unsecured loan facility of $250 million from Deutsche Bank AG.
The Public Investment Company (PIC) of South Africa, one of the major institutional shareholders of ETI, is providing full credit support to Deutsche Bank in this transaction via a sub–participation of risk. This new facility of $250 million will be used primarily to refinance maturing facilities.
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