Ecobank Nigeria signs debut $150m loan

Ecobank Nigeria signs debut $150m loan
August 11, 2015 Advocaat Law Practice

Ecobank Nigeria has made its debut in the international loan market with a $150 million loan.

Commerzbank, Filiale Luxembourg, First Gulf Bank, Mashreqbank and Standard Chartered Bank acted as mandated lead arrangers and bookrunners. Standard Chartered Bank is the facility agent and documentation agent.

The loan has a one-year tenor and was oversubscribed from 50%, having launched at $100 million.  

The loan will help the bank fund transactions in sectors such as telecoms and oil and gas, according to Ecobank Nigerias Executive Director Foluke Aboderin.