ETI intends to use the tap proceeds to fund general corporate purposes, including refinancing of upcoming maturities. The tap was two times oversubscribed off diverse investor orderbook driven by commercial banks, development finance institutions and asset managers from Africa, the United Kingdom, Europe and the Middle East.
Strong investor demand during intraday bookbuilding enabled ETI to price the tap with a reoffer yield of 9.375 per cent, representing a 100-basis point tightening versus the original issuance placed in October 2024.Afreximbank, through its Advisory and Capital Markets department, acted as Joint Lead Manager to ETI on the tap transaction alongside other international banking partners.
ETI is a leading pan-African banking group with presence in 35 African countries, serving more than 32 million customers with demonstrated track record in international capital markets.
