Investor Confidence Soars as Ecobank Secures $125M in Eurobond Deal

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has successfully raised $125 million through the issuance of 10.125% Senior Notes due in 2029, signaling renewed investor confidence in Sub-Saharan African debt markets.

The new issuance, completed on May 15, 2025, will be consolidated with the bank’s existing $400 million 10.125% Senior Notes issued in October 2024, forming a single series maturing in 2029. The offering drew strong interest from a diverse base of global investors, including financial institutions and fund managers across Africa, the UK, and Europe. The transaction launched with initial pricing thoughts at 9.725% but following robust demand and a peak order book of $235 million, pricing was tightened to 9.375%—37.5 basis points inside the initial estimate. The deal was advised by Renaissance Capital Africa, underscoring its continued role in advancing African access to international capital.

This marks a significant milestone as the first public Eurobond issuance by a Sub-Saharan African bank since market volatility disrupted regional access to global debt markets. The success of Ecobank’s offering is seen as a sign of returning confidence among global investors in African financial institutions.
Ecobank intends to use the proceeds for general corporate purposes, further enhancing its operational capacity across the 35 African countries in which it operates. The bank also reported stable financials in Q1 2025, with a 2% year-on-year increase in Net Interest Income to $295 million and a Non-Interest Revenue ratio of 25.2%, reflecting its diversified income structure.
With this latest issuance, ETI has now raised a cumulative $1.4 billion in Eurobonds since 2019, cementing its reputation as a reliable player in international capital markets and a key driver of African financial integration.