Ecobank Transnational Inc, the parent
company of pan-African banking group Ecobank, has signed a $200 million
one-year syndicated loan, the bank announced on Wednesday.
Deutsche Bank acted as initial mandated
lead arranger, bookrunner and facility agent for the loan, which raised
$230 million in syndication.
The facility pays an interest margin of
475 basis points over Libor and will be used for general corporate
purposes, one banker close to the deal said.
In November, Ecobank Nigeria signed a $150 million, one-year loan coordinated by Standard Chartered Bank.
ETI is rated B by Fitch Ratings.
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