Fixed Income Analysis /
Nigeria

ECOBANK TRANSNATIONAL INC: New bond on the way

    Tolu Alamutu
    Tolu Alamutu

    Credit Research Analyst, Banks

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    Tellimer Research
    15 June 2018
    Published byTellimer Research
    Ecobank Transnational Incorporated (ETI) has announced plans to issue a 5y US$-denominated senior unsecured bond. Given the Group’s ratings, the UBA 2022 and Zenith Bank 2022 bonds could be seen as comparable securities. However, ETI’s ownership, geographical diversification and larger size might mean the Group will seek to price tighter.