ETI Releases Update on the $400m Convertible Bond Issue


On April 18, 2017, Ecobank Transnational Incorporated announced its proposed Convertible Bond issue of up to US$400 million. Further to the announcement and the shareholders’ approval at the Extra-Ordinary General Meeting held on June 16 2017, ETI wishes to provide the following update;

Transaction Advisers have been appointed to advise on the completion of the structure and terms of the convertible bond in line with the approval given by Shareholders. The transaction is expected to be completed before end of 2017;

Subject to the necessary legal and regulatory authorisations, the Convertible Bond will be listed on the International Securities Market (ISM) of the London Stock Exchange by end of 2017;

Subject to the necessary legal and regulatory authorisations, the terms of the transaction will be available to the Shareholders. Shareholders may contact ETI’s Investor Relations team to know more about the transaction.

All remaining information will be disclosed to the shareholders on the website as soon as it is defined and available.

*Important Note*

This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in which such offer or solicitation is unlawful. The securities referred to in this press release have not been, and will not be registered under the regulations in Nigeria, Ghana and UEMOA, and may not be offered or sold in these regions.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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