Bonds

African Export-Import Bank and Africa Finance Corporation lead Ecobank Transnational Incorporated(ETI)'s $250 million Bridge-to-Bond Facility.

Africa Finance Review Team

— 1 min read
African Export-Import Bank and Africa Finance Corporation lead Ecobank Transnational Incorporated(ETI)'s $250 million Bridge-to-Bond Facility.
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Ecobank Transnational Incorporated (ETI) has signed a $250 million senior bridge-to-bond loan facility led by The African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC), which serve as the Global Coordinators and Initial Mandated Lead Arrangers.

The initial twelve-month loan will support Ecobank Transnational Incorporated's trade finance and general corporate needs. Emirati bank Mashreqbank PSC also acted as a Mandated Lead Arranger for the loan facility in the statement.

The Lomé-based Pan African banking group, led by Proparco, which includes Norfund, DEG, FMO, and EFP, secured a $200 million loan last year to support sustainable development and tackle climate change across Africa.  In 2021, the group also issued the first pan-African banking group to issue sustainability-compliant Tier 2 bonds.

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