Ecobank Transnational Incorporated (ETI) said it has secured a $250 million loan which it intends to use to refinance maturing facilities.
ETI said in a statement to the Nigerian Stock Exchange (NSE), that the loan deal has been completed.
According to Ecobank, the facility is a five-year senior unsecured loan obtained from Deutsche Bank AG, a German global banking and financial services company.
The statement by a member of ETI’s Group Communications, Mireille Bokpe-Anoumou, 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.
Incorporated in Lomé, Togo in 1988, ETI is the parent company of the leading independent pan-African banking group, Ecobank.
It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, and Guinea Bissau.
Others include Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe.