By Kayode Tokede
Arise B.V, a leading African investment company, has made an additional Tier 1 (AT1) investment of about $75 million in Ecobank Transnational Incorporated (ETI) – the parent company of the Ecobank Group.
This is contained in a statement signed by ETI’s Head of Corporate Communications, Adenike Laoye, and sent to the Nigerian Exchange Limited (NGX).
According to the disclosure, the recent investment is Basel III compliant and is the first AT1 instrument to be issued by Ecobank Transnational Incorporated.
In light of this, the financial giant described it as “a landmark transaction in the sub-Saharan Africa region.” The bank also revealed that the investment will help optimize and improve its Tier-1 capital by $75 million.
This recent investment follows an earlier ground-breaking $350 million subordinated Sustainability Eurobond issued by ETI in June 2021, which was very well received by international investors across diverse continents. The Eurobond has since been listed on the London Stock Exchange as Tier 2 capital.