Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, has announced plans to raise funds from the international debt capital market as part of efforts to refinance existing debt obligations and expand its sustainable finance portfolio.
The banking group disclosed the proposed transaction in a regulatory filing submitted to the Nigerian Exchange Limited, Ghana Stock Exchange, and the Bourse Régionale des Valeurs Mobilières on May 7, 2026.
According to the filing signed by ETI’s Group Executive Director and Chief Financial Officer, Ayo Adepoju, the lender plans to issue Tier 2 qualifying Nature Notes under U.S. SEC Rule 144A and Regulation S.
Reason For Debt Raise
ETI stated that proceeds from the planned issuance will primarily be used to finance a concurrent “any-and-all” tender offer for its existing $350 million 8.750% Tier 2 Notes due June 2031.
The bank also noted that funds raised from the issuance would support the financing and refinancing of eligible green assets under its Green Bond Framework.
“The net proceeds of the issue of the Notes will be deployed to finance the concurrent any-and-all tender offer of the ETI U.S.$350 million 8.750% Tier 2 notes due June 2031,” the company stated.
It added that an amount equivalent to the full net proceeds would be allocated toward financing or refinancing new and existing eligible assets covered under the Group’s sustainability framework.
ETI further disclosed that the proposed Nature Notes are expected to be listed on the London Stock Exchange, where the securities would trade on the regulated market, subject to completion of required documentation and prevailing market conditions.
The lender said the planned debt issuance forms part of its broader strategy to strengthen its capital structure while advancing sustainable finance initiatives across its operations in Africa.
Previous capital raise
The latest move follows ETI’s $250 million Additional Tier 1 (AT1) capital issuance approved by shareholders during an Extraordinary General Meeting held in Lomé on May 28, 2025.
The issuance, launched through a private placement of contingent convertible notes, was aimed at strengthening the Group’s regulatory capital position and improving financial resilience under Basel III requirements.
At the time, ETI stated that the exercise was conducted exclusively through private placement and did not constitute a public offer of securities.
Strong 2025 financial performance
Ecobank recently reported strong financial results for 2025, surpassing the N1 trillion profit mark as rising treasury income complemented traditional lending revenues.
The Group’s earnings growth was driven by increased investment in high-yield government securities alongside stronger deposit growth across its operations.
Gross earnings rose by 16% year-on-year to approximately N4.88 trillion, while profit after tax increased by 23% to N904.7 billion.
Income from treasury bills and investment securities generated over N1.4 trillion in interest income, while customer loans remained the largest contributor to gross earnings, accounting for nearly one-third of total income.
The latest fundraising plan underscores growing interest among African financial institutions in accessing international capital markets to support sustainability-focused financing and strengthen balance sheets.
