ETI borrows $250m from Deutsche bank to repay outstanding debts

Ecobank Transnational Incorporated (ETI) has signed a USD 250 million senior unsecured loan facility with Deutsche Bank AG.

The bank gave the disclosure in a regulatory filing with the Nigerian Stock Exchange on Tuesday, September 5, 2017.

According to ETI, the Lome-based parent company of the Ecobank Group, the senior unsecured loan facility of USD 250 million from Deutsche Bank AG was signed for a five-year period.
The statement from the bank further revealed that “The Public Investment Company (PIC) of South Africa, one of the major institutional shareholders of ETI, is providing full credit support to Deutsche Bank in this transaction via a sub–participation of risk.”