Saturday , January 28 2023

The EcoBank received a syndicated loan of $ 200 million


# Other countries : Ecobank Transnational Incorporated (ETI) has completed a syndicated loan of US $ 200 million. This loan, organized by Deutsche Bank, should be used as part of the group's diversification of funding sources, primarily to cover part of the bank's debt.

"Ecobank Transnational Incorporation" has announced the completion of a syndicated loan of $ 200 million.

Founded and founded in Lome, Togo, Ecobank Transnational Incorporated is the parent company of the Pan-African Universal Bank, which is represented in 36 African countries. The group has offices in France, Dubai, London and Beijing.

The last loan withdrawn from the Group was $ 268.5 million. Written in dollars. This situation prompted the issuer to emit $ Deutsche Bank's $ 150 million emission. 200 Million Dollars

"This funding supports the diversification of funding and the availability of market access," a statement reads.

The loan is expected to be paid in November 2019, despite the fact that it tries to optimize the management of the group, it now needs urgent financing of an institution that can deal with high operating costs.

READ: "EcoBank": a crisis that could undermine shareholders' shares

If no information about borrowing has been provided, the amount raised may be used to allow the group to develop, but first of all will cover part of the debt that will be repaid in the current year.

At the end of 2017, various loans of EcoBank JSC totaled 1.72 billion tenge. , Including short-term receivables (less than 12 months) – 246.5 million US dollars; Despite the fact that the 2017 loss of $ 205 million in 2017 would have brought 228.54 million dollars to green, it would speed up the development of the bank.

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