ETI gives update on its $400m convertible bond issue, says transaction would be completed before year-end

Ecobank Transnational Incorporated (ETI) has given an update on its proposed $400 million convertible bond issue announced April 18, 2017, saying that the transaction could be completed before the end of 2017

In a statement signed by Ato Arku, head investor relations, ETI said transaction advisers have been appointed to advise on the completion of the structure and terms of the convertible bond in line with the approval given shareholders.

“The transaction is expected to be completed before end of 2017 and subject to the necessary legal and regulatory authorisations, the convertible bond will be listed on the International Securities Market (ISM) of the London Stock Exchange by end of 2017,” the statement noted.

It further stated that subject to the necessary legal and regulatory authorisations, the terms of the transaction would be available to shareholders.

“Shareholders may contact ETI’s Investor Relations team to know more about the transaction,” Arku wrote, adding tha all remaining information will be disclosed to the shareholders on the website as soon as it is defined and available.