Africa’s Ecobank Transnational eyes $50 million tap of 2024 notes

By Marisa Wong

Morgantown, W.Va., May 28 – Ecobank Transnational Inc. is planning a $50 million add-on to its 2024 notes, according to a notice.

Deutsche Bank, Renaissance Capital, Standard Bank and Standard Chartered Bank will act as managers for the Regulation S tap, which may include an over-allotment option.

As previously reported, Ecobank priced $450 million of 9½% five-year notes (B-/B) on April 11 at 99.029 to yield 9¾%.

Lome, Togo-based Ecobank is a pan-African lender serving wholesale and retail customers in West and Central Africa.

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