Ecobank secures US$150 million term loan facility

Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated has secured a US$150 million term loan facility from Commerzbank Aktiengesellschaft, Filiale Luxemburg, First Gulf Bank PJSC, Mashreqbank psc and Standard Chartered Bank.

Set to be used for general lending purposes, the was 50 percent oversubscribed, increasing from its original US$100 million launch amount.

Established in 1986 and with approximately US$10 billion in assets today, Ecobank Nigeria ranks as one of the country’s top six banks.

In a statement, Ecobank Nigeria’s Managing Director, Mr. Jibril Aku said: “This transaction broadens and strengthens Ecobank Nigeria’s base of lending banks. We are particularly encouraged by the response of the international markets, as it reflects confidence in our long-term growth plans.”

ETI has over 1,200 branches and offices in 36 countries in West, Central, East and Southern Africa, as well as in London, Paris, Dubai and Beijing. It is listed on the Lagos, Accra and Abidjan (BRVM) stock exchanges.